DLD Asset Management LP Buys Shares of 100,000 Perpetua Resources Corp. $PPTA

Key Points

• DLD Asset Management LP has acquired 100,000 shares of Perpetua Resources Corp., valued at approximately $1,069,000, representing 0.14% of the company's stock as reported to the SEC.
• Major shareholder Paulson & Co. Inc. significantly increased their stake by purchasing over 7.5 million shares, boosting their ownership to 32.3 million shares, valued at around $426.98 million.
• Perpetua Resources Corp. is currently trading at around $16.35, with a market capitalization of $1.76 billion and analysts predicting a potential price target of $22.25.

DLD Asset Management LP acquired a new stake in shares of Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 100,000 shares of the company's stock, valued at approximately $1,069,000. DLD Asset Management LP owned approximately 0.14% of Perpetua Resources as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in PPTA. Ancora Advisors LLC bought a new position in Perpetua Resources in the 4th quarter valued at $37,000. GAMMA Investing LLC raised its position in Perpetua Resources by 1,658.4% during the 1st quarter. GAMMA Investing LLC now owns 4,308 shares of the company's stock worth $46,000 after buying an additional 4,063 shares during the last quarter. North Capital Inc. acquired a new stake in shares of Perpetua Resources during the 1st quarter worth approximately $53,000. BNP Paribas Financial Markets purchased a new position in Perpetua Resources in the 4th quarter valued at about $55,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Perpetua Resources in the first quarter valued at approximately $76,000. 70.07% of the stock is currently owned by institutional investors.

Perpetua Resources Stock Down 0.8%

Perpetua Resources stock traded down $0.14 during trading hours on Friday, hitting $17.73. The stock had a trading volume of 2,581,107 shares, compared to its average volume of 1,756,715. Perpetua Resources Corp. has a fifty-two week low of $7.61 and a fifty-two week high of $18.71. The company has a 50-day moving average of $15.13 and a two-hundred day moving average of $13.12. The company has a market cap of $1.91 billion, a PE ratio of -57.19 and a beta of -0.02.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on PPTA. Royal Bank Of Canada assumed coverage on Perpetua Resources in a research report on Friday, July 18th. They set an "outperform" rating and a $23.00 price objective for the company. B. Riley reaffirmed a "buy" rating and set a $17.00 price target (up from $16.00) on shares of Perpetua Resources in a research report on Wednesday, June 18th. National Bankshares reissued an "outperform" rating on shares of Perpetua Resources in a research report on Wednesday, June 18th. Finally, HC Wainwright lifted their price objective on Perpetua Resources from $27.50 to $30.00 and gave the stock a "buy" rating in a report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $22.25.

Insiders Place Their Bets

In related news, major shareholder Paulson & Co. Inc. acquired 7,575,757 shares of the company's stock in a transaction dated Monday, June 16th. The stock was bought at an average cost of $13.20 per share, with a total value of $99,999,992.40. Following the acquisition, the insider owned 32,347,299 shares of the company's stock, valued at approximately $426,984,346.80. The trade was a 30.58% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.

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.