U S Global Investors Inc. Increases Stock Position in Perpetua Resources Corp. $PPTA

Key Points

• U S Global Investors Inc. increased its stake in Perpetua Resources Corp. by 66.7% during the second quarter, holding 50,000 shares valued at $607,000.
• Analysts have recently raised their price targets for Perpetua Resources, with B. Riley setting a new price target of $25.00 and HC Wainwright maintaining a target of $30.00, indicating a Moderate Buy rating.
• Insider trading activity included notable share sales by two executives, with Michael Stephen Wright selling 10,000 shares at an average price of $18.31 and Jonathan Cherry selling 14,911 shares at an average price of $23.72.

U S Global Investors Inc. grew its stake in shares of Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) by 66.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 50,000 shares of the company's stock after buying an additional 20,000 shares during the period. U S Global Investors Inc.'s holdings in Perpetua Resources were worth $607,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Sprott Inc. grew its stake in shares of Perpetua Resources by 15.5% during the 1st quarter. Sprott Inc. now owns 3,395,395 shares of the company's stock valued at $36,297,000 after buying an additional 456,524 shares during the period. Encompass Capital Advisors LLC purchased a new stake in Perpetua Resources during the 1st quarter worth $15,745,000. Millennium Management LLC boosted its position in Perpetua Resources by 219.0% during the 1st quarter. Millennium Management LLC now owns 1,181,899 shares of the company's stock worth $12,634,000 after purchasing an additional 811,363 shares during the period. Amundi boosted its position in Perpetua Resources by 39.4% during the 1st quarter. Amundi now owns 1,017,573 shares of the company's stock worth $11,397,000 after purchasing an additional 287,664 shares during the period. Finally, Krilogy Financial LLC boosted its position in Perpetua Resources by 2.6% during the 2nd quarter. Krilogy Financial LLC now owns 821,914 shares of the company's stock worth $9,978,000 after purchasing an additional 21,010 shares during the period. 70.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PPTA shares. B. Riley upped their price target on shares of Perpetua Resources from $23.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, October 3rd. Wall Street Zen raised shares of Perpetua Resources from a "sell" rating to a "hold" rating in a research report on Saturday, September 20th. National Bankshares reaffirmed an "outperform" rating on shares of Perpetua Resources in a research report on Wednesday, June 18th. HC Wainwright reaffirmed a "buy" rating and set a $30.00 price target on shares of Perpetua Resources in a research report on Tuesday, September 23rd. Finally, UBS Group set a $30.00 price target on shares of Perpetua Resources in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, Perpetua Resources presently has an average rating of "Moderate Buy" and an average price target of $25.40.

Insider Transactions at Perpetua Resources

In other news, insider Michael Stephen Wright sold 10,000 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $18.31, for a total value of $183,100.00. Following the sale, the insider owned 14,195 shares in the company, valued at approximately $259,910.45. This represents a 41.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan Cherry sold 14,911 shares of the company's stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $23.72, for a total transaction of $353,688.92. Following the completion of the sale, the insider owned 36,249 shares in the company, valued at approximately $859,826.28. This trade represents a 29.15% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company's stock.

Perpetua Resources Stock Performance

Shares of Perpetua Resources stock opened at $25.79 on Friday. The firm has a market cap of $2.77 billion, a PE ratio of -83.19 and a beta of 0.01. The firm's 50-day simple moving average is $18.81 and its 200-day simple moving average is $15.42. Perpetua Resources Corp. has a 1 year low of $7.81 and a 1 year high of $26.80.

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, beating analysts' consensus estimates of ($0.14) by $0.06. On average, equities analysts predict that Perpetua Resources Corp. will post -0.21 earnings per share for the current year.

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.

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