DLD Asset Management LP Acquires New Stake in Perpetua Resources Corp. $PPTA

Key Points

• DLD Asset Management LP has invested approximately $1.07 million in Perpetua Resources Corp. by purchasing 100,000 shares, representing about 0.14% of the company's stock.
• Recent analyst ratings for Perpetua Resources include a target price increase from B. Riley, now set at $23.00, with the company generally receiving an "outperform" and "buy" ratings.
• Insider trading saw major shareholder Paulson & Co. Inc. acquire 7.6 million shares for nearly $100 million, increasing their ownership stake by over 30%.

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

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew 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 during the period. North Capital Inc. bought a new stake in Perpetua Resources during the first quarter valued at $53,000. BNP Paribas Financial Markets bought a new stake in Perpetua Resources during the fourth quarter valued at $55,000. Quantbot Technologies LP bought a new stake in Perpetua Resources during the first quarter valued at $76,000. Finally, Continuum Advisory LLC boosted its stake in Perpetua Resources by 72.9% during the first quarter. Continuum Advisory LLC now owns 8,300 shares of the company's stock valued at $89,000 after buying an additional 3,500 shares during the period. 70.07% of the stock is owned by institutional investors.

Perpetua Resources Stock Up 2.4%

PPTA traded up $0.41 on Wednesday, reaching $17.33. 1,113,124 shares of the company traded hands, compared to its average volume of 1,756,422. Perpetua Resources Corp. has a one year low of $7.81 and a one year high of $19.75. The firm has a fifty day simple moving average of $16.94 and a two-hundred day simple moving average of $14.09. The company has a market cap of $1.86 billion and a P/E ratio of -55.84.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PPTA shares. Royal Bank Of Canada assumed coverage on shares of Perpetua Resources in a report on Friday, July 18th. They set an "outperform" rating and a $23.00 price objective for the company. B. Riley boosted their price objective on shares of Perpetua Resources from $17.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. HC Wainwright boosted their price target on shares of Perpetua Resources from $27.50 to $30.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Finally, National Bankshares reissued an "outperform" rating on shares of Perpetua Resources in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $23.75.

Insider Activity

In related news, insider Michael Stephen Wright sold 10,000 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $18.31, for a total value of $183,100.00. Following the completion of the transaction, the insider directly owned 14,195 shares in the company, valued at $259,910.45. The trade was a 41.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.50% of the stock is currently 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.