Perpetua Resources Corp. $PPTA Shares Acquired by Amundi

Key Points

• Amundi increased its stake in Perpetua Resources Corp. by 39.4%, acquiring a total of approximately 1,017,573 shares valued at about $11.4 million.
• Several institutional investors also raised their holdings in PPTA, with a notable 15.5% increase in shares owned by Sprott Inc.
• Analysts maintain a consensus Buy rating for Perpetua Resources, with price targets ranging from $17.00 to $30.00 reflecting positive sentiment towards the stock.

Amundi grew its stake in Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) by 39.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,017,573 shares of the company's stock after acquiring an additional 287,664 shares during the quarter. Amundi owned about 1.43% of Perpetua Resources worth $11,397,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of Perpetua Resources by 1,658.4% in the 1st quarter. GAMMA Investing LLC now owns 4,308 shares of the company's stock valued at $46,000 after acquiring an additional 4,063 shares during the period. North Capital Inc. purchased a new position in Perpetua Resources during the 1st quarter worth $53,000. BNP Paribas Financial Markets purchased a new position in Perpetua Resources during the 4th quarter worth $55,000. Quantbot Technologies LP purchased a new position in Perpetua Resources during the 1st quarter worth $76,000. Finally, Continuum Advisory LLC grew its stake in Perpetua Resources by 72.9% during the 1st quarter. Continuum Advisory LLC now owns 8,300 shares of the company's stock worth $89,000 after buying an additional 3,500 shares during the last quarter. 70.07% of the stock is currently owned by hedge funds and other institutional investors.

Perpetua Resources Stock Performance

NASDAQ PPTA traded up $0.11 during trading hours on Friday, reaching $17.32. The company's stock had a trading volume of 1,365,033 shares, compared to its average volume of 2,072,345. Perpetua Resources Corp. has a 1-year low of $7.81 and a 1-year high of $19.75. The company's 50-day moving average is $16.66 and its two-hundred day moving average is $13.86.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported ($0.08) EPS for the quarter, beating analysts' consensus estimates of ($0.14) by $0.06. Sell-side analysts anticipate that Perpetua Resources Corp. will post -0.21 EPS for the current fiscal year.

Analysts Set New Price Targets

PPTA has been the topic of several research analyst reports. HC Wainwright boosted their target price on Perpetua Resources from $27.50 to $30.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. National Bankshares reaffirmed an "outperform" rating on shares of Perpetua Resources in a research report on Wednesday, June 18th. Royal Bank Of Canada started coverage on Perpetua Resources in a research report on Friday, July 18th. They set an "outperform" rating and a $23.00 price target for the company. Finally, B. Riley lifted their price target on Perpetua Resources from $17.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $23.75.

Insider Activity at Perpetua Resources

In related news, major shareholder Paulson & Co. Inc. purchased 7,575,757 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was purchased at an average price of $13.20 per share, with a total value of $99,999,992.40. Following the completion of the acquisition, the insider owned 32,347,299 shares in the company, valued at $426,984,346.80. This trade represents a 30.58% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael Stephen Wright sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $18.31, for a total value of $183,100.00. Following the completion of the sale, the insider directly owned 14,195 shares of the company's stock, valued at approximately $259,910.45. This represents a 41.33% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

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.