Pinnacle Wealth Management Group Inc. Invests $1.05 Million in Perpetua Resources Corp. $PPTA

Key Points

• Pinnacle Wealth Management Group Inc. acquired a new position of 43,310 shares in Perpetua Resources (NASDAQ:PPTA) in the fourth quarter, valued at approximately $1.05 million.
• Insiders have sold 56,500 shares over the last three months (about $1.58 million), leaving insiders with 1.90% ownership while hedge funds and other institutions own roughly 70.07% of the stock.
• Perpetua reported quarterly EPS of ($0.61), missing the consensus of ($0.01); the shares trade near $30.71 and carry an average analyst stance of "Moderate Buy" with a consensus target of $35.

Pinnacle Wealth Management Group Inc. acquired a new position in Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 43,310 shares of the company's stock, valued at approximately $1,049,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its stake in shares of Perpetua Resources by 4.6% in the second quarter. Tower Research Capital LLC TRC now owns 15,872 shares of the company's stock worth $193,000 after purchasing an additional 697 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Perpetua Resources by 50.7% in the third quarter. Jones Financial Companies Lllp now owns 2,751 shares of the company's stock valued at $58,000 after acquiring an additional 925 shares in the last quarter. Clear Creek Financial Management LLC increased its position in shares of Perpetua Resources by 8.3% during the fourth quarter. Clear Creek Financial Management LLC now owns 15,136 shares of the company's stock valued at $366,000 after acquiring an additional 1,158 shares during the last quarter. Harbor Investment Advisory LLC increased its position in shares of Perpetua Resources by 42.7% during the fourth quarter. Harbor Investment Advisory LLC now owns 4,422 shares of the company's stock valued at $107,000 after acquiring an additional 1,324 shares during the last quarter. Finally, Private Trust Co. NA purchased a new stake in shares of Perpetua Resources during the third quarter valued at approximately $35,000. 70.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Perpetua Resources

In other Perpetua Resources news, insider Jonathan Cherry sold 4,079 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $29.31, for a total transaction of $119,555.49. Following the completion of the transaction, the insider directly owned 44,895 shares of the company's stock, valued at approximately $1,315,872.45. This represents a 8.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mckinsey Margaret Lyon sold 43,722 shares of the stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $27.57, for a total value of $1,205,415.54. Following the transaction, the insider directly owned 132,110 shares of the company's stock, valued at approximately $3,642,272.70. This trade represents a 24.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 56,500 shares of company stock valued at $1,581,853. 1.90% of the stock is owned by corporate insiders.

Perpetua Resources Trading Up 2.6%

Shares of NASDAQ PPTA opened at $30.71 on Tuesday. The stock has a fifty day simple moving average of $29.86 and a two-hundred day simple moving average of $27.36. Perpetua Resources Corp. has a 1-year low of $11.22 and a 1-year high of $37.37. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of -29.25 and a beta of 0.15.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.60). Analysts forecast that Perpetua Resources Corp. will post -0.21 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PPTA shares. HC Wainwright reaffirmed a "buy" rating and set a $41.00 price target on shares of Perpetua Resources in a research report on Wednesday, April 8th. B. Riley Financial increased their price target on Perpetua Resources from $30.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, March 18th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Perpetua Resources in a research report on Thursday, January 22nd. Finally, Zacks Research downgraded Perpetua Resources from a "hold" rating to a "strong sell" rating in a research report on Wednesday, April 8th. Six analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $35.00.

Perpetua Resources Profile

Perpetua Resources Inc NASDAQ: PPTA, formerly known as eCobalt Solutions Inc, is a mineral exploration and development company focused on critical metals that support the global clean-energy transition. The company’s primary objective is to advance its flagship Idaho Cobalt Project, a permitted underground mine located near Stibnite, Idaho. This project is designed to produce cobalt, copper, gold and silver, with an emphasis on providing responsibly sourced materials to North American battery and technology markets.

In addition to its Idaho Cobalt Project, Perpetua Resources holds exploration licenses and mineral tenures across the United States and Canada.

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