Amundi Sells 531,792 Shares of Perpetua Resources Corp. $PPTA

Key Points

• Amundi cut its Perpetua Resources stake by 38.4% in the second quarter, selling 531,792 shares and retaining 852,966 shares worth approximately $17.7 million. Institutional investors collectively own 70.07% of PPTA.
• Perpetua reported a quarterly loss of $0.78 per share, missing the consensus estimate of a $0.19 loss; analysts expect a full-year loss of $2.16 per share.
• Analyst sentiment remains mixed but leans positive, with five Buy ratings, one Hold, and one Sell. The stock carries a “Moderate Buy” consensus rating and an average price target of $35.90, compared with a recent price of $23.63.

Amundi decreased its stake in Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) by 38.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 852,966 shares of the company's stock after selling 531,792 shares during the period. Amundi owned about 0.68% of Perpetua Resources worth $17,708,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PPTA. Osterweis Capital Management Inc. purchased a new stake in Perpetua Resources during the second quarter valued at about $26,000. Compass Financial Management LLC purchased a new position in shares of Perpetua Resources in the 2nd quarter worth about $29,000. Smartleaf Asset Management LLC bought a new position in shares of Perpetua Resources during the 4th quarter valued at about $31,000. UMB Bank n.a. bought a new position in shares of Perpetua Resources during the 4th quarter valued at about $36,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of Perpetua Resources during the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 70.07% of the company's stock.

Perpetua Resources Stock Performance

NASDAQ:PPTA opened at $23.63 on Friday. The firm has a market cap of $2.96 billion, a PE ratio of -11.70 and a beta of 0.15. Perpetua Resources Corp. has a fifty-two week low of $16.43 and a fifty-two week high of $37.37. The business has a 50 day moving average price of $22.11 and a 200-day moving average price of $25.85.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PPTA. Weiss Ratings restated a "sell (d-)" rating on shares of Perpetua Resources in a research report on Friday, July 17th. B. Riley Financial assumed coverage on shares of Perpetua Resources in a research report on Monday, August 3rd. They set a "buy" rating and a $30.00 price target on the stock. HC Wainwright reissued a "buy" rating and set a $43.50 price target on shares of Perpetua Resources in a research note on Tuesday, August 18th. Scotiabank assumed coverage on shares of Perpetua Resources in a report on Tuesday, September 1st. They issued a "sector outperform" rating for the company. Finally, Zacks Research raised shares of Perpetua Resources from a "strong sell" rating to a "hold" rating in a research note on Monday, June 8th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Perpetua Resources presently has an average rating of "Moderate Buy" and an average target price of $35.90.

Perpetua Resources Company Profile

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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