Hohimer Wealth Management LLC Sells 71,420 Shares of Perpetua Resources Corp. $PPTA

Key Points

• Hohimer Wealth Management cut its Perpetua Resources stake by 29.9%, selling 71,420 shares in the third quarter and retaining 167,760 shares valued at approximately $3.62 million.
• Analyst opinions are mixed: three analysts rate the stock Buy and two rate it Sell, resulting in a consensus Hold and an average price target of $36.75.
• Perpetua reported quarterly earnings of -$0.78 per share, missing the consensus estimate of -$0.19 per share.

Hohimer Wealth Management LLC trimmed its holdings in Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) by 29.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 167,760 shares of the company's stock after selling 71,420 shares during the quarter. Hohimer Wealth Management LLC owned about 0.13% of Perpetua Resources worth $3,619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the stock. Osterweis Capital Management Inc. bought a new position in shares of Perpetua Resources in the second quarter valued at $26,000. Compass Financial Management LLC bought a new stake in Perpetua Resources in the second quarter worth about $29,000. Signaturefd LLC lifted its stake in Perpetua Resources by 3,120.4% in the third quarter. Signaturefd LLC now owns 1,739 shares of the company's stock valued at $38,000 after purchasing an additional 1,685 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Perpetua Resources during the 2nd quarter valued at $41,000. Finally, Sterling Capital Management LLC grew its stake in shares of Perpetua Resources by 839.7% during the 3rd quarter. Sterling Capital Management LLC now owns 2,838 shares of the company's stock worth $61,000 after acquiring an additional 2,536 shares during the period. Institutional investors and hedge funds own 70.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Scotiabank assumed coverage on Perpetua Resources in a report on Tuesday, September 1st. They set a "sector outperform" rating on the stock. Zacks Research lowered Perpetua Resources from a "hold" rating to a "strong sell" rating in a research note on Thursday, October 15th. HC Wainwright reaffirmed a "buy" rating and issued a $43.50 price objective on shares of Perpetua Resources in a research note on Wednesday, September 30th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Perpetua Resources in a research note on Thursday, October 15th. Finally, B. Riley Financial began coverage on shares of Perpetua Resources in a research note on Monday, August 3rd. They set a "buy" rating and a $30.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $36.75.

Perpetua Resources Stock Performance

NASDAQ:PPTA opened at $19.53 on Monday. The company has a 50-day moving average price of $20.87 and a 200-day moving average price of $25.18. Perpetua Resources Corp. has a 12 month low of $15.66 and a 12 month high of $37.37. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of -9.67 and a beta of 0.24.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.59). During the same quarter in the prior year, the firm posted $0.08 EPS. Equities analysts forecast that Perpetua Resources Corp. will post -2.16 EPS for the current fiscal year.

About Perpetua Resources

Perpetua Resources Corp. is a mineral development company focused on advancing the Stibnite Gold Project in central Idaho. The project is designed to produce gold and antimony, a critical mineral used in defense applications, energy technologies, flame retardants and other industrial products. The company is pursuing the project through its U.S. subsidiary, Stibnite Gold Project LLC.

The Stibnite Gold Project is located in the historic Stibnite-Yellow Pine mining district. Perpetua’s activities include permitting, engineering, environmental studies and project development, as well as planning for the restoration of legacy environmental impacts associated with earlier mining in the area.

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