Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) shares saw strong trading volume on Monday . 1,749,617 shares changed hands during mid-day trading, an increase of 76% from the previous session's volume of 994,510 shares.The stock last traded at $13.05 and had previously closed at $12.46.
Analyst Ratings Changes
Several research firms have recently weighed in on PPTA. B. Riley restated a "buy" rating and set a $17.00 price objective (up previously from $16.00) on shares of Perpetua Resources in a research report on Wednesday, June 18th. National Bankshares reissued an "outperform" rating on shares of Perpetua Resources in a research report on Wednesday, June 18th. National Bank Financial upgraded shares of Perpetua Resources to a "strong-buy" rating in a research note on Friday, March 21st. Finally, HC Wainwright restated a "buy" rating and issued a $27.50 target price on shares of Perpetua Resources in a research note on Tuesday, June 17th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $21.17.
Check Out Our Latest Research Report on PPTA
Perpetua Resources Stock Up 5.3%
The stock has a 50 day moving average of $13.89 and a 200 day moving average of $12.05. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -45.21 and a beta of -0.04.
Perpetua Resources (NASDAQ:PPTA - Get Free Report) last announced its quarterly earnings data 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). As a group, sell-side analysts anticipate that Perpetua Resources Corp. will post -0.21 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, major shareholder Paulson & Co. Inc. bought 7,575,757 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were bought at an average cost of $13.20 per share, for a total transaction of $99,999,992.40. Following the completion of the transaction, the insider owned 32,347,299 shares of the company's stock, valued at approximately $426,984,346.80. This trade represents a 30.58% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Stephen Wright sold 6,500 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $13.85, for a total value of $90,025.00. Following the completion of the transaction, the insider directly owned 14,195 shares in the company, valued at approximately $196,600.75. This trade represents a 31.41% decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Perpetua Resources
Several institutional investors have recently added to or reduced their stakes in PPTA. Ancora Advisors LLC purchased a new position in Perpetua Resources in the 4th quarter valued at about $37,000. GAMMA Investing LLC raised its holdings in 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 acquiring an additional 4,063 shares during the period. North Capital Inc. acquired a new stake in Perpetua Resources in the 1st quarter worth $53,000. BNP Paribas Financial Markets bought a new position in Perpetua Resources during the 4th quarter valued at about $55,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Perpetua Resources in the 1st quarter valued at $76,000. Institutional investors and hedge funds own 70.07% of the company's stock.
Perpetua Resources Company Profile
(
Get Free Report)
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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