Zurcher Kantonalbank Zurich Cantonalbank Buys Shares of 16,790 Perpetua Resources Corp. (NASDAQ:PPTA)

Key Points

• Zurcher Kantonalbank has made a new investment in Perpetua Resources Corp., acquiring 16,790 shares valued at approximately $179,000 in the first quarter.
• Insider activity includes a significant purchase by major shareholder Paulson & Co. Inc., who acquired over 7.5 million shares at an average price of $13.20, enhancing their total ownership by 30.58%.
• Perpetua Resources recently faced a 2.3% decline in stock price, and analysts have issued various price targets ranging from $17.00 to $27.50, with a consensus target price of $21.63.

Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,790 shares of the company's stock, valued at approximately $179,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Geode Capital Management LLC grew its position in shares of Perpetua Resources by 1.1% in 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 last quarter. ExodusPoint Capital Management LP acquired a new stake in shares of Perpetua Resources in the fourth quarter valued at about $140,000. Wells Fargo & Company MN lifted its stake in shares of Perpetua Resources by 57.2% in the fourth quarter. Wells Fargo & Company MN now owns 18,644 shares of the company's stock valued at $199,000 after purchasing an additional 6,783 shares during the period. Bank of Montreal Can lifted its stake in shares of Perpetua Resources by 1.6% in the fourth quarter. Bank of Montreal Can now owns 67,594 shares of the company's stock valued at $721,000 after purchasing an additional 1,054 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Perpetua Resources during the 4th quarter valued at about $280,000. Hedge funds and other institutional investors own 70.07% of the company's stock.

Insider Transactions at Perpetua Resources

In other Perpetua Resources news, major shareholder Paulson & Co. Inc. acquired 7,575,757 shares of the business's stock in a transaction dated Monday, June 16th. The shares were acquired at an average price of $13.20 per share, for a total transaction of $99,999,992.40. Following the acquisition, the insider directly owned 32,347,299 shares of the company's stock, valued at approximately $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 hyperlink. Company insiders own 1.50% of the company's stock.

Perpetua Resources Trading Up 2.1%

PPTA stock traded up $0.37 during midday trading on Friday, hitting $17.90. The stock had a trading volume of 316,107 shares, compared to its average volume of 1,691,906. The stock has a 50-day simple moving average of $14.92 and a 200 day simple moving average of $12.89. Perpetua Resources Corp. has a 52 week low of $7.61 and a 52 week high of $18.04. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -57.86 and a beta of -0.02.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported ($0.08) earnings per share for the quarter, beating analysts' consensus estimates of ($0.14) by $0.06. On average, equities analysts forecast that Perpetua Resources Corp. will post -0.21 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PPTA shares. B. Riley reiterated a "buy" rating and set a $17.00 price target (up from $16.00) on shares of Perpetua Resources in a report on Wednesday, June 18th. Royal Bank Of Canada assumed coverage on shares of Perpetua Resources in a research report on Friday, July 18th. They set an "outperform" rating and a $23.00 price target on the stock. National Bankshares reissued an "outperform" rating on shares of Perpetua Resources in a research report on Wednesday, June 18th. Finally, HC Wainwright lifted their price target on shares of Perpetua Resources from $27.50 to $30.00 and gave the stock a "buy" rating in a research note on Friday. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $22.25.

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.