Harbour Investments Inc. Purchases Shares of 27,925 Perpetua Resources Corp. (NASDAQ:PPTA)

Key Points

• Harbour Investments Inc. acquired 27,925 shares of Perpetua Resources Corp. for approximately $299,000 during the first quarter, indicating significant investor interest in the company.
• Major shareholder Paulson & Co. Inc. purchased 7.57 million shares, increasing their ownership by 30.58%, which highlights strong insider confidence in the stock.
• Perpetua Resources has received multiple analyst upgrades, with target prices ranging from $17.00 to $27.50, reflecting a consensus rating of "Buy" on the stock.

Harbour Investments Inc. bought a new stake in Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 27,925 shares of the company's stock, valued at approximately $299,000.

A number of other institutional investors also recently bought and sold shares of PPTA. Ancora Advisors LLC bought a new position in Perpetua Resources in the fourth quarter valued at about $37,000. GAMMA Investing LLC lifted its holdings in Perpetua Resources by 1,658.4% in the first 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 position in Perpetua Resources in the first quarter valued at about $53,000. BNP Paribas Financial Markets bought a new position in Perpetua Resources in the fourth quarter valued at about $55,000. Finally, Continuum Advisory LLC lifted its holdings in Perpetua Resources by 72.9% in the first quarter. Continuum Advisory LLC now owns 8,300 shares of the company's stock valued at $89,000 after acquiring an additional 3,500 shares during the period. Institutional investors own 70.07% of the company's stock.

Wall Street Analysts Forecast Growth

PPTA has been the topic of a number of recent research reports. National Bankshares reissued an "outperform" rating on shares of Perpetua Resources in a report on Wednesday, June 18th. Royal Bank Of Canada began coverage on Perpetua Resources in a research report on Friday, July 18th. They issued an "outperform" rating and a $23.00 price target for the company. B. Riley restated a "buy" rating and issued a $17.00 price target (up previously from $16.00) on shares of Perpetua Resources in a research report on Wednesday, June 18th. Finally, HC Wainwright restated a "buy" rating and issued a $27.50 price target on shares of Perpetua Resources in a research report on Tuesday, June 17th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Perpetua Resources has a consensus rating of "Buy" and an average price target of $21.63.

Perpetua Resources Price Performance

Shares of NASDAQ:PPTA traded down $0.40 during trading on Friday, hitting $16.90. 1,768,754 shares of the company's stock were exchanged, compared to its average volume of 2,468,468. Perpetua Resources Corp. has a 52-week low of $5.71 and a 52-week high of $18.04. The business's 50-day simple moving average is $14.87 and its 200 day simple moving average is $12.75. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -58.28 and a beta of -0.02.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last released its earnings results on Friday, May 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.07). On average, sell-side analysts anticipate that Perpetua Resources Corp. will post -0.21 EPS for the current fiscal year.

Insider Activity

In other Perpetua Resources news, major shareholder Paulson & Co. Inc. bought 7,575,757 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was purchased at an average price of $13.20 per share, for a total transaction of $99,999,992.40. Following the completion of the transaction, the insider owned 32,347,299 shares of the company's stock, valued at $426,984,346.80. This trade represents a 30.58% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.50% of the company's stock.

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.