Alyeska Investment Group L.P. Acquires 862,143 Shares of Perpetua Resources Corp. $PPTA

Key Points

• Alyeska Investment Group increased its Perpetua Resources stake by 363.4% in the second quarter, adding 862,143 shares to own 1.10 million shares valued at approximately $22.8 million.
• Institutional investors own 70.07% of Perpetua Resources, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $35.90.
• Perpetua reported quarterly EPS of -$0.78, missing the consensus estimate of -$0.19; shares opened at $24.94, compared with a 52-week range of $16.43 to $37.37.

Alyeska Investment Group L.P. boosted its holdings in Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) by 363.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,099,408 shares of the company's stock after purchasing an additional 862,143 shares during the period. Alyeska Investment Group L.P. owned about 0.88% of Perpetua Resources worth $22,824,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PPTA. Osterweis Capital Management Inc. bought a new stake in shares of Perpetua Resources during the 2nd quarter worth $26,000. Smartleaf Asset Management LLC bought a new position in Perpetua Resources during the fourth quarter valued at about $31,000. UMB Bank n.a. bought a new position in Perpetua Resources during the fourth quarter valued at about $36,000. Kestra Advisory Services LLC purchased a new stake in Perpetua Resources during the fourth quarter worth about $40,000. Finally, Pilgrim Partners Asia Pte Ltd increased its holdings in Perpetua Resources by 225.0% during the fourth quarter. Pilgrim Partners Asia Pte Ltd now owns 2,600 shares of the company's stock worth $63,000 after buying an additional 1,800 shares during the last quarter. Institutional investors own 70.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Zacks Research upgraded shares of Perpetua Resources from a "strong sell" rating to a "hold" rating in a research note on Monday, June 8th. HC Wainwright reiterated a "buy" rating and set a $43.50 price target on shares of Perpetua Resources in a research note on Tuesday, August 18th. Weiss Ratings restated a "sell (d-)" rating on shares of Perpetua Resources in a research note on Friday, July 17th. Finally, B. Riley Financial began coverage on shares of Perpetua Resources in a research note on Monday, August 3rd. They issued a "buy" rating and a $30.00 target price for the company. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Perpetua Resources presently has an average rating of "Moderate Buy" and a consensus target price of $35.90.

Perpetua Resources Stock Down 0.7%

Shares of NASDAQ PPTA opened at $24.94 on Tuesday. Perpetua Resources Corp. has a 52 week low of $16.43 and a 52 week high of $37.37. The business has a 50-day simple moving average of $21.53 and a two-hundred day simple moving average of $26.12. The company has a market cap of $3.12 billion, a P/E ratio of -12.35 and a beta of 0.09.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.59). During the same quarter in the previous year, the company posted $0.08 earnings per share. Equities research analysts anticipate that Perpetua Resources Corp. will post -2.16 EPS for the current year.

About Perpetua Resources

Perpetua Resources Corp. engages in the exploration and development of mineral properties in the United States. The company primarily explores for gold, silver, and antimony deposits. Its principal asset is the 100% owned Stibnite Gold project, which includes 1,672 unpatented lode claims, mill sites, and patented land holdings covering an area of approximately 11,548 hectares located in Valley County, Idaho. The company was formerly known as Midas Gold Corp. and changed its name to Perpetua Resources Corp.

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