Paulson & Co. Inc. Acquires 7,575,757 Shares of Perpetua Resources Corp. (NASDAQ:PPTA) 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 on Monday, June 16th. The shares were purchased at an average price of $13.20 per share, for a total transaction of $99,999,992.40. Following the completion of the acquisition, the insider now directly owns 32,347,299 shares in the company, valued at $426,984,346.80. This trade represents a 30.58% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Perpetua Resources Stock Performance

PPTA stock traded up $0.35 during trading on Thursday, reaching $13.42. 5,906,551 shares of the company traded hands, compared to its average volume of 850,931. The business has a 50 day simple moving average of $14.03 and a 200 day simple moving average of $11.96. Perpetua Resources Corp. has a 12 month low of $5.01 and a 12 month high of $17.96. The company has a market capitalization of $960.11 million, a price-to-earnings ratio of -46.28 and a beta of 0.02.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last released its quarterly earnings results 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, research analysts forecast that Perpetua Resources Corp. will post -0.21 EPS for the current year.

Institutional Investors Weigh In On Perpetua Resources

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ancora Advisors LLC purchased a new position in Perpetua Resources in the fourth quarter worth $37,000. GAMMA Investing LLC boosted its position in shares of Perpetua Resources by 1,658.4% in the 1st quarter. GAMMA Investing LLC now owns 4,308 shares of the company's stock worth $46,000 after purchasing an additional 4,063 shares in the last quarter. North Capital Inc. purchased a new position in Perpetua Resources during the 1st quarter worth $53,000. BNP Paribas Financial Markets purchased a new position in Perpetua Resources during the 4th quarter worth $55,000. Finally, Quantbot Technologies LP acquired a new position in Perpetua Resources during the 1st quarter valued at about $76,000. Hedge funds and other institutional investors own 70.07% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PPTA. National Bank Financial upgraded shares of Perpetua Resources to a "strong-buy" rating in a report on Friday, March 21st. National Bankshares reaffirmed an "outperform" rating on shares of Perpetua Resources in a research report on Wednesday. HC Wainwright reissued a "buy" rating and set a $27.50 price objective on shares of Perpetua Resources in a report on Tuesday. Finally, B. Riley reissued a "buy" rating and issued a $17.00 price objective (up previously from $16.00) on shares of Perpetua Resources in a research note on Wednesday. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $21.17.

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.