Teacher Retirement System of Texas Invests $19.43 Million in Perpetua Resources Corp. $PPTA

Key Points

• Teacher Retirement System of Texas bought 802,385 shares of Perpetua Resources (NASDAQ: PPTA), a new stake valued at approximately $19.43 million, leaving it with a 0.65% ownership at quarter-end.
• Analyst sentiment is mixed but tilted positive: the stock has a consensus rating of "Moderate Buy" with an average target of $35.00 (six Buys vs. two Sells, targets as high as $41–$40 from some firms).
• Company fundamentals show near-term weakness—Perpetua missed quarterly EPS expectations with ($0.61) EPS vs. ($0.01) estimate—and insiders sold 56,500 shares (~$1.58 million) over the last quarter.

Teacher Retirement System of Texas bought a new position in shares of Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 802,385 shares of the company's stock, valued at approximately $19,426,000. Teacher Retirement System of Texas owned 0.65% of Perpetua Resources at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PPTA. Alyeska Investment Group L.P. grew its position in Perpetua Resources by 40.4% during the third quarter. Alyeska Investment Group L.P. now owns 4,581,234 shares of the company's stock worth $92,678,000 after buying an additional 1,318,008 shares during the period. Vanguard Group Inc. grew its position in Perpetua Resources by 165.8% during the third quarter. Vanguard Group Inc. now owns 1,912,040 shares of the company's stock worth $38,685,000 after buying an additional 1,192,744 shares during the period. Van ECK Associates Corp grew its position in Perpetua Resources by 53.4% during the third quarter. Van ECK Associates Corp now owns 2,840,546 shares of the company's stock worth $57,464,000 after buying an additional 989,090 shares during the period. Millennium Management LLC grew its position in Perpetua Resources by 219.0% during the first quarter. Millennium Management LLC now owns 1,181,899 shares of the company's stock worth $12,634,000 after buying an additional 811,363 shares during the period. Finally, Two Sigma Investments LP grew its position in Perpetua Resources by 2,549.6% during the third quarter. Two Sigma Investments LP now owns 403,029 shares of the company's stock worth $8,153,000 after buying an additional 387,818 shares during the period. 70.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on PPTA shares. Weiss Ratings restated a "sell (d-)" rating on shares of Perpetua Resources in a research report on Tuesday. HC Wainwright restated a "buy" rating and set a $41.00 target price on shares of Perpetua Resources in a research report on Wednesday, April 8th. Zacks Research lowered shares of Perpetua Resources from a "hold" rating to a "strong sell" rating in a research report on Wednesday, April 8th. Finally, B. Riley Financial upped their target price on shares of Perpetua Resources from $30.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, March 18th. Six analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $35.00.

Insider Activity at Perpetua Resources

In other news, insider Jonathan Cherry sold 4,079 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $29.31, for a total value of $119,555.49. Following the sale, the insider directly owned 44,895 shares in the company, valued at $1,315,872.45. This represents a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mckinsey Margaret Lyon sold 8,699 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $29.53, for a total transaction of $256,881.47. Following the completion of the sale, the insider owned 142,329 shares in the company, valued at $4,202,975.37. This represents a 5.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 56,500 shares of company stock worth $1,581,853 over the last quarter. Company insiders own 1.50% of the company's stock.

Perpetua Resources Price Performance

PPTA stock opened at $29.14 on Friday. The company's 50 day simple moving average is $30.33 and its 200-day simple moving average is $27.90. The firm has a market capitalization of $3.64 billion, a PE ratio of -27.75 and a beta of 0.15. Perpetua Resources Corp. has a 12 month low of $11.22 and a 12 month high of $37.37.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.60). As a group, sell-side analysts anticipate that Perpetua Resources Corp. will post -1.56 earnings per share for the current year.

About Perpetua Resources

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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