Triasima Portfolio Management inc. Acquires Shares of 80,994 Perpetua Resources Corp. (NASDAQ:PPTA)

Triasima Portfolio Management inc. acquired a new stake in Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 80,994 shares of the company's stock, valued at approximately $864,000. Triasima Portfolio Management inc. owned approximately 0.11% of Perpetua Resources as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in PPTA. Condire Management LP boosted its position in 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 during the period. Geode Capital Management LLC boosted its position in 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 during the period. Millennium Management LLC raised its holdings in Perpetua Resources by 226.7% in the 4th quarter. Millennium Management LLC now owns 370,536 shares of the company's stock worth $3,954,000 after purchasing an additional 257,130 shares in the last quarter. Cohen & Steers Inc. bought a new position in Perpetua Resources in the 4th quarter worth $2,729,000. Finally, Yaupon Capital Management LP bought a new position in Perpetua Resources in the 4th quarter worth $2,668,000. Hedge funds and other institutional investors own 70.07% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank Of Canada assumed coverage on shares of Perpetua Resources in a report on Friday. They issued an "outperform" rating and a $23.00 price objective for the company. HC Wainwright restated a "buy" rating and issued a $27.50 price objective on shares of Perpetua Resources in a report on Tuesday, June 17th. B. Riley restated a "buy" rating and issued a $17.00 price objective (up from $16.00) on shares of Perpetua Resources in a report on Wednesday, June 18th. National Bankshares restated an "outperform" rating on shares of Perpetua Resources in a report on Wednesday, June 18th. Finally, National Bank Financial upgraded shares of Perpetua Resources to a "strong-buy" rating in a report on Friday, March 21st. Five equities research 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 presently has an average rating of "Buy" and an average target price of $21.63.

Perpetua Resources Stock Up 8.3%

Shares of Perpetua Resources stock traded up $1.31 during trading on Friday, hitting $17.18. The company's stock had a trading volume of 5,761,402 shares, compared to its average volume of 1,148,724. The company has a fifty day simple moving average of $13.87 and a two-hundred day simple moving average of $12.27. Perpetua Resources Corp. has a 52 week low of $5.25 and a 52 week high of $17.96.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.07). As a group, sell-side analysts anticipate that Perpetua Resources Corp. will post -0.21 earnings per share for the current fiscal year.

Insider Activity

In other Perpetua Resources news, major shareholder Paulson & Co. Inc. purchased 7,575,757 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was bought at an average cost of $13.20 per share, for a total transaction of $99,999,992.40. Following the purchase, the insider directly owned 32,347,299 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Stephen Wright sold 6,500 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $13.85, for a total transaction of $90,025.00. Following the completion of the transaction, the insider owned 14,195 shares of the company's stock, valued at approximately $196,600.75. The trade was a 31.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

Perpetua Resources Company 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.