Dauntless Investment Group LLC Cuts Stock Position in Perpetua Resources Corp. (NASDAQ:PPTA)

Key Points

• Dauntless Investment Group LLC has significantly reduced its stake in Perpetua Resources Corp. by 78.1%, now holding 14,184 shares after selling 50,542 during the first quarter.
• Institutional investors currently own 70.07% of the company's stock, with several firms, including Millennium Management and Condire Management, increasing their holdings in recent months.
• Analysts maintain a positive outlook on Perpetua Resources, with five recommending a buy and an average target price of $21.63 per share.

Dauntless Investment Group LLC lowered its stake in Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) by 78.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 14,184 shares of the company's stock after selling 50,542 shares during the quarter. Dauntless Investment Group LLC's holdings in Perpetua Resources were worth $152,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Ancora Advisors LLC acquired a new stake in Perpetua Resources in the 4th quarter valued at $37,000. GAMMA Investing LLC grew its stake in Perpetua Resources by 1,658.4% in the 1st 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. acquired a new stake in Perpetua Resources in the 1st quarter valued at $53,000. BNP Paribas Financial Markets acquired a new stake in Perpetua Resources in the 4th quarter valued at $55,000. Finally, Continuum Advisory LLC grew its stake in Perpetua Resources by 72.9% in the 1st 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 and hedge funds own 70.07% of the company's stock.

Perpetua Resources Stock Performance

Shares of PPTA stock traded up $0.08 on Friday, hitting $15.18. 1,109,855 shares of the stock traded hands, compared to its average volume of 1,703,703. The firm's 50-day moving average price is $14.54 and its two-hundred day moving average price is $12.55. The stock has a market capitalization of $1.63 billion, a PE ratio of -52.34 and a beta of -0.04. Perpetua Resources Corp. has a twelve month low of $5.25 and a twelve month high of $18.04.

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

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, major shareholder Paulson & Co. Inc. bought 7,575,757 shares of the firm's stock in a transaction on Monday, June 16th. The shares were bought at an average price of $13.20 per share, with a total value of $99,999,992.40. Following the completion of the transaction, the insider directly owned 32,347,299 shares of the company's stock, valued at $426,984,346.80. This represents a 30.58% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is owned by 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.