Caisse de depot et placement du Quebec Takes Position in Perpetua Resources Corp. $PPTA

Key Points

• Caisse de dépôt et placement du Québec acquired 78,363 Perpetua Resources shares worth approximately $1.63 million, while institutional investors collectively own 70.07% of the company.
• Analyst sentiment is generally positive: Perpetua has a consensus rating of “Moderate Buy” and an average price target of $35.90, with individual targets reaching $43.50.
• Perpetua reported a quarterly loss of $0.78 per share, missing estimates by $0.59. Shares opened at $25.11 and have traded between $16.43 and $37.37 over the past year.

Caisse de depot et placement du Quebec purchased a new position in Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 78,363 shares of the company's stock, valued at approximately $1,626,000. Caisse de depot et placement du Quebec owned approximately 0.06% of Perpetua Resources as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Paulson & CO. Inc. bought a new position in Perpetua Resources during the 2nd quarter valued at approximately $671,530,000. BlackRock Inc. bought a new stake in Perpetua Resources in the second quarter worth $110,181,000. JPMorgan Chase & Co. boosted its holdings in Perpetua Resources by 3,107.0% in the fourth quarter. JPMorgan Chase & Co. now owns 2,910,833 shares of the company's stock worth $70,471,000 after acquiring an additional 2,820,067 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in shares of Perpetua Resources by 40.4% in the third quarter. Alyeska Investment Group L.P. now owns 4,581,234 shares of the company's stock worth $92,678,000 after acquiring an additional 1,318,008 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Perpetua Resources by 65.1% in the fourth quarter. Vanguard Group Inc. now owns 3,157,670 shares of the company's stock worth $76,447,000 after acquiring an additional 1,245,630 shares during the last quarter. Hedge funds and other institutional investors own 70.07% of the company's stock.

Analysts Set New Price Targets

PPTA has been the subject of several analyst reports. Zacks Research upgraded Perpetua Resources from a "strong sell" rating to a "hold" rating in a report on Monday, June 8th. B. Riley Financial started coverage on shares of Perpetua Resources in a research report on Monday, August 3rd. They set a "buy" rating and a $30.00 price objective on the stock. HC Wainwright restated a "buy" rating and set a $43.50 price objective on shares of Perpetua Resources in a research note on Tuesday, August 18th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Perpetua Resources in a report on Friday, July 17th. Four 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. Based on data from MarketBeat, Perpetua Resources presently has a consensus rating of "Moderate Buy" and an average target price of $35.90.

Perpetua Resources Stock Down 4.1%

PPTA opened at $25.11 on Friday. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of -12.43 and a beta of 0.09. The firm has a 50 day moving average price of $21.50 and a 200-day moving average price of $26.19. Perpetua Resources Corp. has a twelve month low of $16.43 and a twelve month high of $37.37.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last announced 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 last year, the firm earned $0.08 earnings per share. As a group, analysts expect that Perpetua Resources Corp. will post -2.16 earnings per share for the current year.

Perpetua Resources 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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