50,000 Shares in Perpetua Resources Corp. $PPTA Bought by Medici Capital LLC

Key Points

• Medici Capital LLC has made a significant investment of $607,000 in Perpetua Resources Corp, acquiring 50,000 shares, which now represents 0.6% of its investment portfolio.
• Perpetua Resources has seen strong interest from institutional investors, with notable purchases exceeding $15 million from multiple firms in the first quarter alone.
• The stock of Perpetua Resources is currently trading at $17.32 with a market cap of $1.86 billion, and it has an average analyst rating of "Buy" with a price target of $23.75.

Medici Capital LLC purchased a new position in shares of Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 50,000 shares of the company's stock, valued at approximately $607,000. Perpetua Resources comprises about 0.6% of Medici Capital LLC's holdings, making the stock its 17th biggest holding. Medici Capital LLC owned 0.05% of Perpetua Resources at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sprott Inc. grew its position in shares of Perpetua Resources by 15.5% during the first quarter. Sprott Inc. now owns 3,395,395 shares of the company's stock worth $36,297,000 after acquiring an additional 456,524 shares during the last quarter. Encompass Capital Advisors LLC acquired a new stake in shares of Perpetua Resources in the first quarter valued at $15,745,000. Millennium Management LLC lifted its stake in Perpetua Resources by 219.0% in the 1st quarter. Millennium Management LLC now owns 1,181,899 shares of the company's stock worth $12,634,000 after acquiring an additional 811,363 shares in the last quarter. Amundi increased its holdings in shares of Perpetua Resources by 39.4% during the 1st quarter. Amundi now owns 1,017,573 shares of the company's stock valued at $11,397,000 after acquiring an additional 287,664 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of Perpetua Resources in the 1st quarter worth approximately $2,734,000. Institutional investors and hedge funds own 70.07% of the company's stock.

Perpetua Resources Price Performance

Shares of PPTA stock traded up $0.75 during trading on Friday, reaching $18.16. The company's stock had a trading volume of 1,117,050 shares, compared to its average volume of 1,761,135. The company has a market capitalization of $1.95 billion and a price-to-earnings ratio of -58.49. Perpetua Resources Corp. has a 1-year low of $7.81 and a 1-year high of $19.75. The stock's 50-day moving average price is $17.08 and its 200 day moving average price is $14.17.

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

Insider Transactions at Perpetua Resources

In related news, insider Michael Stephen Wright sold 10,000 shares of Perpetua Resources stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $18.31, for a total transaction of $183,100.00. Following the sale, the insider directly owned 14,195 shares in the company, valued at $259,910.45. The trade was a 41.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

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

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.