Perpetua Resources Corp. (NASDAQ:PPTA) Major Shareholder Buys $99,999,992.40 in Stock

Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) major shareholder Paulson & Co. Inc. acquired 7,575,757 shares of Perpetua Resources stock in a transaction dated Monday, June 16th. The stock was purchased at an average price of $13.20 per share, with a total value of $99,999,992.40. Following the completion of the purchase, the insider now owns 32,347,299 shares of the company's stock, valued at approximately $426,984,346.80. The trade was a 30.58% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Perpetua Resources Stock Up 1.2%

NASDAQ:PPTA traded up $0.16 during trading hours on Monday, reaching $13.00. 4,405,909 shares of the stock were exchanged, compared to its average volume of 810,717. Perpetua Resources Corp. has a twelve month low of $5.01 and a twelve month high of $17.96. The business has a 50-day moving average of $13.86 and a two-hundred day moving average of $11.92. The company has a market capitalization of $930.06 million, a price-to-earnings ratio of -59.09 and a beta of 0.02.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last released its earnings results on Friday, May 9th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.07). On average, research analysts forecast that Perpetua Resources Corp. will post -0.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Perpetua Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sprott Inc. lifted its holdings in Perpetua Resources by 15.5% in the first quarter. Sprott Inc. now owns 3,395,395 shares of the company's stock valued at $36,297,000 after acquiring an additional 456,524 shares during the period. Encompass Capital Advisors LLC acquired a new position in shares of Perpetua Resources in the first quarter worth $15,745,000. Millennium Management LLC boosted its stake in shares of Perpetua Resources by 219.0% during the first quarter. Millennium Management LLC now owns 1,181,899 shares of the company's stock valued at $12,634,000 after acquiring an additional 811,363 shares during the last quarter. Amundi increased 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 in the last quarter. Finally, Condire Management LP lifted its holdings in Perpetua Resources by 6.9% in the 4th quarter. Condire Management LP now owns 890,459 shares of the company's stock valued at $9,501,000 after purchasing an additional 57,399 shares in the last quarter. Hedge funds and other institutional investors own 70.07% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PPTA shares. National Bankshares reiterated an "outperform" rating on shares of Perpetua Resources in a research note on Wednesday, April 2nd. National Bank Financial raised Perpetua Resources to a "strong-buy" rating in a research note on Friday, March 21st. Finally, HC Wainwright cut their price target on shares of Perpetua Resources from $28.00 to $27.50 and set a "buy" rating for the company in a report on Tuesday, May 13th.

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.

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