Amundi Grows Stake in Perpetua Resources Corp. $PPTA

Key Points

• Amundi increased its Perpetua Resources stake by 37.3% in the first quarter, acquiring 375,962 additional shares for a total of 1.38 million shares valued at approximately $38.9 million. Institutional investors collectively own 70.07% of PPTA.
• Perpetua shares opened at $18.41, well below their 52-week high of $37.37. The company reported a quarterly loss of $0.39 per share, missing analyst expectations of a $0.18 loss.
• Analyst sentiment is moderately bullish, with four Buy ratings, one Hold and one Sell; the average price target is $37.90, including HC Wainwright’s increased $43.50 target.

Amundi boosted its stake in shares of Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) by 37.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,384,758 shares of the company's stock after acquiring an additional 375,962 shares during the quarter. Amundi owned about 1.11% of Perpetua Resources worth $38,939,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PPTA. IFP Advisors Inc lifted its position in Perpetua Resources by 0.8% in the fourth quarter. IFP Advisors Inc now owns 50,405 shares of the company's stock worth $1,220,000 after buying an additional 405 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Perpetua Resources by 21.0% during the fourth quarter. Farther Finance Advisors LLC now owns 3,123 shares of the company's stock worth $76,000 after purchasing an additional 541 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in shares of Perpetua Resources by 0.5% during the fourth quarter. Benjamin Edwards Inc. now owns 102,645 shares of the company's stock valued at $2,485,000 after purchasing an additional 543 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Perpetua Resources by 4.6% in the second quarter. Tower Research Capital LLC TRC now owns 15,872 shares of the company's stock worth $193,000 after purchasing an additional 697 shares during the last quarter. Finally, Continuum Advisory LLC increased its stake in Perpetua Resources by 8.5% in the 1st quarter. Continuum Advisory LLC now owns 12,736 shares of the company's stock worth $358,000 after buying an additional 994 shares during the period. 70.07% of the stock is currently owned by hedge funds and other institutional investors.

Perpetua Resources Price Performance

Shares of NASDAQ PPTA opened at $18.41 on Monday. The stock has a market capitalization of $2.30 billion, a P/E ratio of -13.95 and a beta of 0.09. Perpetua Resources Corp. has a 1-year low of $14.69 and a 1-year high of $37.37. The business has a fifty day moving average price of $21.61 and a 200 day moving average price of $27.09.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last posted its earnings results on Monday, May 11th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.21). As a group, equities research analysts anticipate that Perpetua Resources Corp. will post -1.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PPTA. Zacks Research raised shares of Perpetua Resources from a "strong sell" rating to a "hold" rating in a research report on Monday, June 8th. Weiss Ratings restated a "sell (d-)" rating on shares of Perpetua Resources in a report on Friday, July 17th. Finally, HC Wainwright upped their target price on Perpetua Resources from $41.00 to $43.50 and gave the stock a "buy" rating in a report on Tuesday, May 26th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Perpetua Resources currently has an average rating of "Moderate Buy" and an average price target of $37.90.

Perpetua Resources Profile

Perpetua Resources Inc NASDAQ: PPTA, formerly known as eCobalt Solutions Inc, is a mineral exploration and development company focused on critical metals that support the global clean-energy transition. The company’s primary objective is to advance its flagship Idaho Cobalt Project, a permitted underground mine located near Stibnite, Idaho. This project is designed to produce cobalt, copper, gold and silver, with an emphasis on providing responsibly sourced materials to North American battery and technology markets.

In addition to its Idaho Cobalt Project, Perpetua Resources holds exploration licenses and mineral tenures across the United States and Canada.

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