Harbour Investments Inc. Lowers Position in Perpetua Resources Corp. $PPTA

Key Points

• Harbour Investments Inc. sharply cut its Perpetua Resources stake by 83.3% in the fourth quarter, selling 40,421 shares and leaving it with 8,114 shares valued at about $196,000.
• Insider selling was also reported, with Jonathan Cherry and Mckinsey Margaret Lyon both reducing their holdings in separate April 2 transactions.
• Perpetua Resources missed earnings expectations, posting a quarterly loss of $0.39 per share versus the expected loss of $0.18, while analysts currently rate the stock a consensus Moderate Buy with an average price target of $35.42.

Harbour Investments Inc. lessened its stake in Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) by 83.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,114 shares of the company's stock after selling 40,421 shares during the period. Harbour Investments Inc.'s holdings in Perpetua Resources were worth $196,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. IFP Advisors Inc lifted its position in shares of Perpetua Resources by 0.8% during the 4th quarter. IFP Advisors Inc now owns 50,405 shares of the company's stock valued at $1,220,000 after buying an additional 405 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Perpetua Resources by 21.0% during the 4th quarter. Farther Finance Advisors LLC now owns 3,123 shares of the company's stock valued at $76,000 after buying an additional 541 shares in the last quarter. Benjamin Edwards Inc. lifted its position in shares of Perpetua Resources by 0.5% during the 4th quarter. Benjamin Edwards Inc. now owns 102,645 shares of the company's stock valued at $2,485,000 after buying an additional 543 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Perpetua Resources by 4.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 15,872 shares of the company's stock valued at $193,000 after buying an additional 697 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its position in shares of Perpetua Resources by 50.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,751 shares of the company's stock valued at $58,000 after buying an additional 925 shares in the last quarter. Hedge funds and other institutional investors own 70.07% of the company's stock.

Insider Buying and Selling at Perpetua Resources

In related news, insider Jonathan Cherry sold 4,079 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $29.31, for a total value of $119,555.49. Following the completion of the transaction, the insider directly owned 44,895 shares of the company's stock, valued at approximately $1,315,872.45. This represents a 8.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mckinsey Margaret Lyon sold 8,699 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $29.53, for a total value of $256,881.47. Following the completion of the transaction, the insider directly owned 142,329 shares of the company's stock, valued at approximately $4,202,975.37. This represents a 5.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.57% of the stock is currently owned by corporate insiders.

Perpetua Resources Stock Performance

NASDAQ PPTA opened at $24.78 on Thursday. The business has a fifty day moving average price of $28.49 and a 200 day moving average price of $28.59. Perpetua Resources Corp. has a one year low of $11.68 and a one year high of $37.37. The company has a market cap of $3.10 billion and a P/E ratio of -18.77.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.21). As a group, sell-side analysts predict that Perpetua Resources Corp. will post -1.54 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PPTA shares. B. Riley Financial increased their target price on Perpetua Resources from $30.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, March 18th. Zacks Research lowered Perpetua Resources from a "hold" rating to a "strong sell" rating in a research report on Wednesday, April 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Perpetua Resources in a research report on Tuesday, April 21st. Finally, HC Wainwright increased their target price on Perpetua Resources from $41.00 to $43.50 and gave the company a "buy" rating in a research report on Tuesday, May 26th. Six investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $35.42.

Perpetua Resources Company Profile

Perpetua Resources Inc NASDAQ: PPTA, formerly known as eCobalt Solutions Inc, is a mineral exploration and development company focused on critical metals that support the global clean-energy transition. The company’s primary objective is to advance its flagship Idaho Cobalt Project, a permitted underground mine located near Stibnite, Idaho. This project is designed to produce cobalt, copper, gold and silver, with an emphasis on providing responsibly sourced materials to North American battery and technology markets.

In addition to its Idaho Cobalt Project, Perpetua Resources holds exploration licenses and mineral tenures across the United States and Canada.

Want to see what other hedge funds are holding PPTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Perpetua Resources Corp. (NASDAQ:PPTA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.