Shares of Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) saw strong trading volume on Friday . 1,589,129 shares traded hands during mid-day trading, an increase of 41% from the previous session's volume of 1,126,173 shares.The stock last traded at $17.06 and had previously closed at $15.87.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. National Bank Financial upgraded Perpetua Resources to a "strong-buy" rating in a report on Friday, March 21st. Royal Bank Of Canada assumed coverage on Perpetua Resources in a research note on Friday. They set an "outperform" rating and a $23.00 target price for the company. 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 report on Wednesday, June 18th. HC Wainwright restated a "buy" rating and set a $27.50 price objective on shares of Perpetua Resources in a research report on Tuesday, June 17th. Finally, National Bankshares reissued an "outperform" rating on shares of Perpetua Resources in a research report on Wednesday, June 18th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $21.63.
View Our Latest Research Report on Perpetua Resources
Perpetua Resources Trading Up 6.8%
The stock has a fifty day moving average of $13.83 and a two-hundred day moving average of $12.23. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of -58.42 and a beta of -0.04.
Perpetua Resources (NASDAQ:PPTA - Get Free Report) last announced its 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). Equities analysts expect that Perpetua Resources Corp. will post -0.21 earnings per share for the current year.
Insider Transactions at Perpetua Resources
In other Perpetua Resources news, insider Michael Stephen Wright sold 6,500 shares of Perpetua Resources stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $13.85, for a total value of $90,025.00. Following the transaction, the insider owned 14,195 shares of the company's stock, valued at approximately $196,600.75. The trade was a 31.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Paulson & Co. Inc. bought 7,575,757 shares of the stock in a transaction on Monday, June 16th. The shares were purchased at an average price of $13.20 per share, with a total value of $99,999,992.40. Following the acquisition, the insider owned 32,347,299 shares in the company, valued at approximately $426,984,346.80. This represents a 30.58% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.50% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Encompass Capital Advisors LLC bought a new stake in Perpetua Resources in the 1st quarter valued at $15,745,000. Millennium Management LLC lifted its stake in Perpetua Resources by 219.0% during the first quarter. Millennium Management LLC now owns 1,181,899 shares of the company's stock worth $12,634,000 after purchasing an additional 811,363 shares during the last quarter. Sprott Inc. raised its holdings in shares of Perpetua Resources by 15.5% during the 1st quarter. Sprott Inc. now owns 3,395,395 shares of the company's stock worth $36,297,000 after buying an additional 456,524 shares in the last quarter. Amundi boosted its stake in Perpetua Resources by 39.4% in the first quarter. Amundi now owns 1,017,573 shares of the company's stock valued at $11,397,000 after buying an additional 287,664 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new position in Perpetua Resources in the first quarter valued at about $2,734,000. 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.
Further Reading
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