DLD Asset Management LP Buys New Position in 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 bought a new stake in Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 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 SEC filing.

Other institutional investors also recently made changes to their positions in the company. Ancora Advisors LLC acquired a new position in shares of Perpetua Resources in the 4th quarter valued at approximately $37,000. GAMMA Investing LLC raised its position in shares of Perpetua Resources by 1,658.4% during the 1st quarter. GAMMA Investing LLC now owns 4,308 shares of the company's stock valued at $46,000 after acquiring an additional 4,063 shares in the last quarter. North Capital Inc. acquired a new stake in shares of Perpetua Resources during the 1st quarter valued at approximately $53,000. BNP Paribas Financial Markets acquired a new stake in shares of Perpetua Resources during the 4th quarter valued at approximately $55,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Perpetua Resources during the 1st quarter valued at approximately $76,000. 70.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Perpetua Resources news, major shareholder Paulson & Co. Inc. purchased 7,575,757 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was bought at an average price of $13.20 per share, with a total value of $99,999,992.40. Following the completion of the purchase, the insider owned 32,347,299 shares in the company, valued at $426,984,346.80. This trade represents a 30.58% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. National Bankshares reissued an "outperform" rating on shares of Perpetua Resources in a research report on Wednesday, June 18th. HC Wainwright upped their price target on Perpetua Resources from $27.50 to $30.00 and gave the company a "buy" rating in a research report on Friday, August 15th. B. Riley reissued 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. Finally, 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 target on the stock. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $22.25.

Perpetua Resources Trading Up 1.9%

PPTA traded up $0.34 during trading on Monday, reaching $18.07. 1,506,921 shares of the company were exchanged, compared to its average volume of 1,720,360. The stock has a market cap of $1.94 billion, a P/E ratio of -58.65 and a beta of -0.02. The firm has a 50 day moving average of $15.13 and a 200 day moving average of $13.14. Perpetua Resources Corp. has a 52 week low of $7.61 and a 52 week high of $18.71.

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

About Perpetua Resources

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.