Perpetua Resources Corp. $PPTA Shares Purchased by Sprott Inc.

Key Points

• Sprott Inc. has increased its holdings in Perpetua Resources Corp. by 15.5%, now owning approximately 4.76% of the company, valued at approximately $36.3 million.
• Perpetua Resources' stock has experienced a 4.9% rise and has a market cap of $1.92 billion, with a recent opening price of $17.87.
• Multiple institutional investors have also acquired stakes in Perpetua Resources, with overall ownership by institutions at 70.07% of the company's stock.

Sprott Inc. increased its holdings in shares of Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) by 15.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,395,395 shares of the company's stock after buying an additional 456,524 shares during the period. Perpetua Resources comprises approximately 2.0% of Sprott Inc.'s investment portfolio, making the stock its 15th largest holding. Sprott Inc. owned approximately 4.76% of Perpetua Resources worth $36,297,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Condire Management LP lifted its position in shares of Perpetua Resources by 6.9% during the 4th quarter. Condire Management LP now owns 890,459 shares of the company's stock valued at $9,501,000 after buying an additional 57,399 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Perpetua Resources by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 489,958 shares of the company's stock valued at $5,228,000 after buying an additional 5,129 shares in the last quarter. Millennium Management LLC lifted its position in shares of Perpetua Resources by 226.7% during the 4th quarter. Millennium Management LLC now owns 370,536 shares of the company's stock valued at $3,954,000 after buying an additional 257,130 shares in the last quarter. Mackenzie Financial Corp purchased a new position in shares of Perpetua Resources during the 1st quarter valued at approximately $2,734,000. Finally, Squarepoint Ops LLC lifted its position in shares of Perpetua Resources by 222.4% during the 4th quarter. Squarepoint Ops LLC now owns 246,029 shares of the company's stock valued at $2,625,000 after buying an additional 169,713 shares in the last quarter. Hedge funds and other institutional investors own 70.07% of the company's stock.

Insider Activity

In related news, major shareholder Paulson & Co. Inc. bought 7,575,757 shares of the business's stock in a transaction on Monday, June 16th. The stock was acquired at an average cost of $13.20 per share, with a total value of $99,999,992.40. Following the purchase, the insider directly owned 32,347,299 shares of the company's stock, valued at $426,984,346.80. The trade was a 30.58% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PPTA shares. Royal Bank Of Canada started coverage on Perpetua Resources in a research report on Friday, July 18th. They set an "outperform" rating and a $23.00 target price on the stock. National Bankshares restated an "outperform" rating on shares of Perpetua Resources in a report on Wednesday, June 18th. B. Riley restated a "buy" rating and issued a $17.00 price objective (up previously from $16.00) on shares of Perpetua Resources in a report on Wednesday, June 18th. Finally, HC Wainwright raised their price objective on Perpetua Resources from $27.50 to $30.00 and gave the company a "buy" rating in a report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $22.25.

Perpetua Resources Stock Down 0.8%

Shares of PPTA traded down $0.14 during midday trading on Friday, reaching $17.73. The company had a trading volume of 2,581,107 shares, compared to its average volume of 1,761,468. Perpetua Resources Corp. has a 1-year low of $7.61 and a 1-year high of $18.71. The stock has a market cap of $1.91 billion, a PE ratio of -57.19 and a beta of -0.02. The firm has a 50 day simple moving average of $15.13 and a 200-day simple moving average of $13.14.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last issued its earnings results on Wednesday, August 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.06. As a group, sell-side analysts anticipate that Perpetua Resources Corp. will post -0.21 earnings per share for the current fiscal year.

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.