Wellington Management Group LLP Makes New Investment in Perpetua Resources Corp. $PPTA

Key Points

• Wellington Management acquired 573,404 shares of Perpetua Resources worth approximately $11.9 million, representing a 0.46% stake. Institutional investors and hedge funds collectively own 70.07% of the company.
• Perpetua reported quarterly EPS of -$0.78, missing the consensus estimate of -$0.19; analysts expect full-year EPS of approximately -$2.16.
• Analyst sentiment remains mixed but leans positive, with five Buy ratings, one Hold, and one Sell. The stock has an average “Moderate Buy” rating and a consensus price target of $35.90, versus a recent price of $25.09.

Wellington Management Group LLP acquired a new position in Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 573,404 shares of the company's stock, valued at approximately $11,904,000. Wellington Management Group LLP owned 0.46% of Perpetua Resources at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Osterweis Capital Management Inc. acquired a new stake in Perpetua Resources during the 2nd quarter worth approximately $26,000. Smartleaf Asset Management LLC purchased a new position in Perpetua Resources in the fourth quarter valued at approximately $31,000. UMB Bank n.a. acquired a new position in Perpetua Resources during the fourth quarter valued at approximately $36,000. Kestra Advisory Services LLC acquired a new position in Perpetua Resources during the fourth quarter valued at approximately $40,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Perpetua Resources during the fourth quarter worth approximately $66,000. 70.07% of the stock is owned by institutional investors and hedge funds.

Perpetua Resources Price Performance

NASDAQ PPTA opened at $25.09 on Tuesday. Perpetua Resources Corp. has a 12 month low of $16.43 and a 12 month high of $37.37. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of -12.42 and a beta of 0.15. The company's fifty day moving average price is $21.86 and its two-hundred day moving average price is $25.98.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last issued its earnings results on Friday, August 14th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.59). During the same quarter last year, the business posted $0.08 EPS. As a group, analysts anticipate that Perpetua Resources Corp. will post -2.16 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PPTA shares. Scotiabank assumed coverage on shares of Perpetua Resources in a research report on Tuesday, September 1st. They issued a "sector outperform" rating for the company. Zacks Research raised shares of Perpetua Resources from a "strong sell" rating to a "hold" rating in a research report on Monday, June 8th. B. Riley Financial began coverage on Perpetua Resources in a report on Monday, August 3rd. They issued a "buy" rating and a $30.00 price target for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Perpetua Resources in a research report on Friday, July 17th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $43.50 target price on shares of Perpetua Resources in a research report on Tuesday, August 18th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Perpetua Resources currently has an average rating of "Moderate Buy" and an average target price of $35.90.

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. The company was formerly known as Midas Gold Corp. and changed its name to Perpetua Resources Corp.

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