XTX Topco Ltd Acquires Shares of 32,743 Perpetua Resources Corp. (NASDAQ:PPTA)

Key Points

• XTX Topco Ltd acquired 32,743 shares of Perpetua Resources Corp., valued at approximately $350,000, indicating interest from institutional investors in the company's stock.
• Major shareholder Paulson & Co. Inc. significantly increased its position by acquiring 7,575,757 shares for around $99.99 million, bringing their total ownership to approximately 32.3 million shares.
• Perpetua Resources has received buy ratings from several brokerages with a price target range between $17.00 and $27.50, along with an average price target of $21.63.

XTX Topco Ltd acquired a new stake in Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 32,743 shares of the company's stock, valued at approximately $350,000.

Several other hedge funds also recently bought and sold shares of the business. Mackenzie Financial Corp bought a new position in Perpetua Resources in the 1st quarter valued at $2,734,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Perpetua Resources in the 1st quarter valued at $179,000. KLP Kapitalforvaltning AS bought a new position in Perpetua Resources in the 1st quarter valued at $94,000. IFP Advisors Inc grew its position in Perpetua Resources by 25.0% in the 1st quarter. IFP Advisors Inc now owns 50,000 shares of the company's stock valued at $534,000 after acquiring an additional 9,997 shares during the last quarter. Finally, Triasima Portfolio Management inc. bought a new position in Perpetua Resources in the 1st quarter valued at $864,000. Institutional investors own 70.07% of the company's stock.

Perpetua Resources Price Performance

Shares of NASDAQ PPTA opened at $16.90 on Friday. The stock has a market capitalization of $1.82 billion, a P/E ratio of -58.28 and a beta of -0.02. Perpetua Resources Corp. has a 1-year low of $5.71 and a 1-year high of $18.04. The business has a fifty day moving average price of $14.87 and a 200 day moving average price of $12.76.

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

Analysts Set New Price Targets

Several brokerages have commented on PPTA. National Bankshares reaffirmed an "outperform" rating on shares of Perpetua Resources in a research report on Wednesday, June 18th. HC Wainwright reissued a "buy" rating and set a $27.50 price target on shares of Perpetua Resources in a research report on Tuesday, June 17th. B. Riley reissued a "buy" rating and set a $17.00 price target (up previously from $16.00) on shares of Perpetua Resources in a research report on Wednesday, June 18th. Finally, Royal Bank Of Canada assumed coverage on Perpetua Resources in a research report on Friday, July 18th. They set an "outperform" rating and a $23.00 price target on the stock. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Perpetua Resources has an average rating of "Buy" and an average price target of $21.63.

Insider Buying and Selling at Perpetua Resources

In related news, major shareholder Paulson & Co. Inc. acquired 7,575,757 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was purchased 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 of the company's stock, valued at $426,984,346.80. This trade represents a 30.58% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 1.50% of the stock is owned by company insiders.

Perpetua Resources 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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