Perpetua Resources (NASDAQ:PPTA) Insider Sells 10,000 Shares

Key Points

• Insider Trading: Perpetua Resources insider Michael Stephen Wright sold 10,000 shares of the company at an average price of $18.31, reducing his ownership by 41.33%.
• Stock Performance: The company's stock price reached $19.20 with a market cap of $2.07 billion, while it has a 52-week low of $7.61 and a high of $19.75.
• Analyst Ratings: Perpetua Resources holds an average "Buy" rating from analysts, with an average price target of $22.25, indicating potential growth ahead.

Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) insider Michael Stephen Wright sold 10,000 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $18.31, for a total transaction of $183,100.00. Following the completion of the sale, the insider directly owned 14,195 shares in the company, valued at approximately $259,910.45. The trade was a 41.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Perpetua Resources Stock Performance

PPTA traded up $0.51 on Wednesday, reaching $19.20. The company had a trading volume of 2,207,522 shares, compared to its average volume of 1,722,055. Perpetua Resources Corp. has a fifty-two week low of $7.61 and a fifty-two week high of $19.75. The stock has a market cap of $2.07 billion and a P/E ratio of -61.93. The company's fifty day moving average is $16.02 and its 200 day moving average is $13.51.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PPTA. 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, June 18th. HC Wainwright upped their price target on shares of Perpetua Resources from $27.50 to $30.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Royal Bank Of Canada initiated coverage on shares of Perpetua Resources in a research report on Friday, July 18th. They issued an "outperform" rating and a $23.00 price target for the company. Finally, National Bankshares reiterated an "outperform" rating on shares of Perpetua Resources in a research report on Wednesday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to data from MarketBeat, Perpetua Resources presently has an average rating of "Buy" and an average price target of $22.25.

Hedge Funds Weigh In On Perpetua Resources

Several hedge funds have recently bought and sold shares of PPTA. Lowe Wealth Advisors LLC bought a new stake in Perpetua Resources during the second quarter valued at approximately $26,000. Steward Partners Investment Advisory LLC bought a new stake in Perpetua Resources during the 2nd quarter valued at $31,000. Ancora Advisors LLC purchased a new position in Perpetua Resources during the 4th quarter valued at $37,000. Caitong International Asset Management Co. Ltd purchased a new position in Perpetua Resources during the 2nd quarter valued at $39,000. Finally, GAMMA Investing LLC increased its position in Perpetua Resources by 1,658.4% during the 1st quarter. GAMMA Investing LLC now owns 4,308 shares of the company's stock valued at $46,000 after purchasing an additional 4,063 shares during the period. Hedge funds and other institutional investors own 70.07% of the company's stock.

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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