Millennium Management LLC Raises Stock Holdings in Perpetua Resources Corp. (NASDAQ:PPTA)

Millennium Management LLC increased its position in Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) by 226.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 370,536 shares of the company's stock after purchasing an additional 257,130 shares during the period. Millennium Management LLC owned 0.53% of Perpetua Resources worth $3,954,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PPTA. SG Americas Securities LLC grew its stake in Perpetua Resources by 48.1% in the fourth quarter. SG Americas Securities LLC now owns 19,870 shares of the company's stock worth $212,000 after purchasing an additional 6,454 shares during the period. Ninety One UK Ltd purchased a new stake in Perpetua Resources in the fourth quarter worth $1,693,000. Lane & Associates LLC grew its stake in Perpetua Resources by 24.0% in the fourth quarter. Lane & Associates LLC now owns 15,987 shares of the company's stock worth $189,000 after purchasing an additional 3,095 shares during the period. Rothschild Investment LLC bought a new stake in Perpetua Resources in the fourth quarter worth $214,000. Finally, Sprott Inc. boosted its holdings in Perpetua Resources by 5.3% in the fourth quarter. Sprott Inc. now owns 2,938,871 shares of the company's stock worth $31,358,000 after acquiring an additional 148,273 shares in the last quarter. 70.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. National Bankshares reissued an "outperform" rating on shares of Perpetua Resources in a report on Wednesday, April 2nd. HC Wainwright dropped their target price on Perpetua Resources from $28.00 to $27.50 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Finally, National Bank Financial raised Perpetua Resources to a "strong-buy" rating in a report on Friday, March 21st.

Perpetua Resources Stock Performance

Shares of NASDAQ:PPTA traded up $0.13 during midday trading on Friday, reaching $13.81. 777,815 shares of the company's stock traded hands, compared to its average volume of 689,884. The company has a market cap of $984.46 million, a price-to-earnings ratio of -62.77 and a beta of 0.06. Perpetua Resources Corp. has a one year low of $5.01 and a one year high of $15.44. The stock has a 50 day moving average of $12.75 and a 200 day moving average of $11.47.

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

Insider Activity

In related news, insider Michael Stephen Wright sold 6,500 shares of the company's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $13.85, for a total transaction of $90,025.00. Following the completion of the sale, the insider now owns 14,195 shares in the company, valued at approximately $196,600.75. This represents a 31.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mckinsey Margaret Lyon sold 22,710 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $8.82, for a total value of $200,302.20. Following the sale, the insider now owns 89,154 shares of the company's stock, valued at approximately $786,338.28. This trade represents a 20.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,210 shares of company stock valued at $510,327 over the last ninety days. 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.