Perpetua Resources (NASDAQ:PPTA) Reaches New 12-Month High - Here's Why

Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $16.26 and last traded at $16.14, with a volume of 573433 shares traded. The stock had previously closed at $14.98.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PPTA shares. National Bank Financial upgraded shares of Perpetua Resources to a "strong-buy" rating in a report on Friday, March 21st. HC Wainwright decreased their price objective 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. Finally, National Bankshares restated an "outperform" rating on shares of Perpetua Resources in a report on Wednesday, April 2nd.

Perpetua Resources Price Performance

The stock's fifty day simple moving average is $12.96 and its 200-day simple moving average is $11.56. The company has a market capitalization of $1.21 billion, a P/E ratio of -77.45 and a beta of 0.06.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.07). On average, research analysts predict that Perpetua Resources Corp. will post -0.21 earnings per share for the current year.

Insider Buying and Selling at Perpetua Resources

In other news, insider Mckinsey Margaret Lyon sold 20,000 shares of the company's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $11.00, for a total transaction of $220,000.00. Following the completion of the transaction, the insider now owns 89,154 shares of the company's stock, valued at approximately $980,694. This represents a 18.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Stephen Wright sold 6,500 shares of the company's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $13.85, for a total transaction of $90,025.00. Following the transaction, the insider now directly owns 14,195 shares of the company's stock, valued at $196,600.75. This represents a 31.41% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Bank of Montreal Can raised its position in Perpetua Resources by 1.6% in the fourth quarter. Bank of Montreal Can now owns 67,594 shares of the company's stock worth $721,000 after purchasing an additional 1,054 shares in the last quarter. Corebridge Financial Inc. raised its position in Perpetua Resources by 7.8% in the first quarter. Corebridge Financial Inc. now owns 20,644 shares of the company's stock worth $221,000 after purchasing an additional 1,498 shares in the last quarter. AQR Capital Management LLC raised its position in Perpetua Resources by 12.6% in the first quarter. AQR Capital Management LLC now owns 15,909 shares of the company's stock worth $170,000 after purchasing an additional 1,780 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Perpetua Resources by 1.7% in the first quarter. Goldman Sachs Group Inc. now owns 108,921 shares of the company's stock worth $1,164,000 after purchasing an additional 1,835 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Perpetua Resources by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,958 shares of the company's stock worth $672,000 after purchasing an additional 2,680 shares in the last quarter. Institutional investors and hedge funds 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.