Jonathan Cherry Sells 14,911 Shares of Perpetua Resources (NASDAQ:PPTA) Stock

Key Points

• Jonathan Cherry, an insider at Perpetua Resources Corp., sold 14,911 shares of the company's stock for a total of approximately $353,688.92, resulting in a 29.15% decrease in their ownership.
• Perpetua Resources' stock price increased by 8.0% during Monday trading, reaching $23.58, with a significant trading volume of over 5 million shares.
• Analysts have mixed ratings for the stock, with a consensus rating of "Moderate Buy" and an average price target of $24.25.

Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) insider Jonathan Cherry sold 14,911 shares of the company's stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $23.72, for a total value of $353,688.92. Following the transaction, the insider directly owned 36,249 shares in the company, valued at approximately $859,826.28. This trade represents a 29.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Perpetua Resources Trading Up 8.0%

Shares of NASDAQ:PPTA traded up $1.74 during midday trading on Monday, hitting $23.58. 5,142,238 shares of the company's stock were exchanged, compared to its average volume of 3,047,412. Perpetua Resources Corp. has a 12 month low of $7.81 and a 12 month high of $24.13. The stock has a 50 day moving average price of $17.92 and a 200-day moving average price of $15.03.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last released its quarterly 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. As a group, equities research analysts expect that Perpetua Resources Corp. will post -0.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on PPTA. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Perpetua Resources in a research report on Saturday, September 27th. Royal Bank Of Canada initiated coverage on Perpetua Resources in a research report on Friday, July 18th. They issued an "outperform" rating and a $23.00 target price for the company. 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. B. Riley lifted their price objective on Perpetua Resources from $23.00 to $25.00 and gave the stock a "buy" rating in a report on Friday. Finally, Wall Street Zen raised shares of Perpetua Resources from a "sell" rating to a "hold" rating in a report on Saturday, September 20th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Perpetua Resources currently has a consensus rating of "Moderate Buy" and an average price target of $24.25.

Hedge Funds Weigh In On Perpetua Resources

A number of institutional investors have recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC bought a new position in shares of Perpetua Resources in the 2nd quarter worth about $26,000. Steward Partners Investment Advisory LLC purchased a new stake in Perpetua Resources during the 2nd quarter valued at about $31,000. Caitong International Asset Management Co. Ltd purchased a new position in Perpetua Resources in the second quarter worth about $39,000. GAMMA Investing LLC grew its holdings in shares of Perpetua Resources by 1,658.4% during the first quarter. GAMMA Investing LLC now owns 4,308 shares of the company's stock valued at $46,000 after buying an additional 4,063 shares during the last quarter. Finally, North Capital Inc. bought a new stake in shares of Perpetua Resources during the first quarter valued at approximately $53,000. Institutional investors own 70.07% of the company's stock.

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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