Perpetua Resources Corp. $PPTA Shares Sold by Van ECK Associates Corp

Key Points

• Van ECK Associates reduced its Perpetua Resources stake by 3% in the second quarter, selling 81,326 shares while retaining 2.62 million shares valued at approximately $54.4 million. Institutional investors collectively own 70.07% of PPTA.
• Perpetua reported a quarterly loss of $0.78 per share, substantially missing the analyst consensus estimate of a $0.19 loss; analysts expect a full-year loss of $2.16 per share.
• Despite mixed ratings, the stock carries a consensus “Moderate Buy” rating and an average price target of $35.90, above its reported opening price of $25.11.

Van ECK Associates Corp lessened its holdings in shares of Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) by 3.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 2,622,292 shares of the company's stock after selling 81,326 shares during the quarter. Van ECK Associates Corp owned about 2.10% of Perpetua Resources worth $54,434,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PPTA. Osterweis Capital Management Inc. acquired a new stake in Perpetua Resources in the second quarter worth approximately $26,000. Smartleaf Asset Management LLC acquired a new position in shares of Perpetua Resources during the 4th quarter valued at $31,000. UMB Bank n.a. bought a new stake in shares of Perpetua Resources in the 4th quarter worth $36,000. Kestra Advisory Services LLC bought a new stake in shares of Perpetua Resources in the 4th quarter worth $40,000. Finally, Pilgrim Partners Asia Pte Ltd lifted its holdings in shares of Perpetua Resources by 225.0% in the fourth quarter. Pilgrim Partners Asia Pte Ltd now owns 2,600 shares of the company's stock valued at $63,000 after buying an additional 1,800 shares during the period. Institutional investors own 70.07% of the company's stock.

Perpetua Resources Price Performance

NASDAQ PPTA opened at $25.11 on Friday. Perpetua Resources Corp. has a fifty-two week low of $16.43 and a fifty-two week high of $37.37. The stock's 50-day moving average is $21.50 and its two-hundred day moving average is $26.19. The firm has a market cap of $3.14 billion, a P/E ratio of -12.43 and a beta of 0.09.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.78) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.59). During the same quarter last year, the company earned $0.08 earnings per share. On average, equities analysts expect that Perpetua Resources Corp. will post -2.16 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PPTA shares. HC Wainwright restated a "buy" rating and set a $43.50 price objective on shares of Perpetua Resources in a research report on Tuesday, August 18th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Perpetua Resources in a research report on Friday, July 17th. B. Riley Financial began coverage on shares of Perpetua Resources in a research report on Monday, August 3rd. They issued a "buy" rating and a $30.00 price target for the company. Finally, Zacks Research upgraded Perpetua Resources from a "strong sell" rating to a "hold" rating in a research report on Monday, June 8th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $35.90.

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. The company was formerly known as Midas Gold Corp. and changed its name to Perpetua Resources Corp.

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