Cibc World Market Inc. Invests $1.28 Million in Perpetua Resources Corp. $PPTA

Key Points

• CIBC World Market acquired 61,862 shares of Perpetua Resources worth approximately $1.28 million in the second quarter. Institutional investors collectively own 70.07% of PPTA.
• Perpetua reported a quarterly loss of $0.78 per share, missing analysts’ expected loss of $0.19; consensus estimates project a full-year loss of $2.16 per share.
• Analyst sentiment remains mixed but leans positive, with a “Moderate Buy” consensus and an average price target of $35.90 versus the stock’s reported price of $26.18.

Cibc World Market Inc. bought a new stake in shares of Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 61,862 shares of the company's stock, valued at approximately $1,283,000.

A number of other hedge funds have also recently made changes to their positions in PPTA. Smartleaf Asset Management LLC purchased a new stake in Perpetua Resources in the 4th quarter valued at about $31,000. UMB Bank n.a. purchased a new position in shares of Perpetua Resources during the fourth quarter worth approximately $36,000. Kestra Advisory Services LLC purchased a new position in shares of Perpetua Resources during the fourth quarter worth approximately $40,000. Pilgrim Partners Asia Pte Ltd raised its stake in shares of Perpetua Resources by 225.0% during the fourth quarter. Pilgrim Partners Asia Pte Ltd now owns 2,600 shares of the company's stock valued at $63,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Osterweis Capital Management Inc. bought a new stake in shares of Perpetua Resources during the fourth quarter valued at approximately $63,000. 70.07% of the stock is currently owned by institutional investors.

Perpetua Resources Price Performance

PPTA opened at $26.18 on Friday. The firm has a market capitalization of $3.28 billion, a PE ratio of -12.96 and a beta of 0.09. The business's 50-day moving average is $21.49 and its two-hundred day moving average is $26.19. Perpetua Resources Corp. has a 1 year low of $16.43 and a 1 year high of $37.37.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.59). During the same quarter last year, the firm earned $0.08 EPS. As a group, sell-side analysts expect that Perpetua Resources Corp. will post -2.16 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on PPTA. B. Riley Financial began coverage on Perpetua Resources in a research note on Monday, August 3rd. They issued a "buy" rating and a $30.00 price objective on the stock. HC Wainwright reaffirmed a "buy" rating and set a $43.50 target price on shares of Perpetua Resources in a research report on Tuesday, August 18th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Perpetua Resources in a report on Friday, July 17th. Finally, Zacks Research raised Perpetua Resources from a "strong sell" rating to a "hold" rating in a research report on Monday, June 8th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Perpetua Resources has an average rating of "Moderate Buy" and a consensus 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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