Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) shares saw strong trading volume on Monday . 1,572,478 shares traded hands during trading, an increase of 80% from the previous session's volume of 871,421 shares.The stock last traded at $13.22 and had previously closed at $12.99.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the company. B. Riley reaffirmed 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. National Bank Financial upgraded shares of Perpetua Resources to a "strong-buy" rating in a research report on Friday, March 21st. National Bankshares reiterated an "outperform" rating on shares of Perpetua Resources in a research report on Wednesday, June 18th. Finally, HC Wainwright reiterated a "buy" rating and set a $27.50 target price on shares of Perpetua Resources in a research report on Tuesday, June 17th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $21.17.
Read Our Latest Report on PPTA
Perpetua Resources Stock Performance
The firm's 50-day simple moving average is $14.07 and its 200 day simple moving average is $12.04. The company has a market cap of $922.15 million, a P/E ratio of -44.45 and a beta of 0.02.
Perpetua Resources (NASDAQ:PPTA - Get Free Report) last issued its earnings results on Friday, May 9th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.07). As a group, research analysts forecast that Perpetua Resources Corp. will post -0.21 earnings per share for the current year.
Insider Activity at Perpetua Resources
In other news, major shareholder Paulson & Co. Inc. acquired 7,575,757 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was acquired at an average price of $13.20 per share, for a total transaction of $99,999,992.40. Following the transaction, the insider now directly owns 32,347,299 shares in the company, valued at approximately $426,984,346.80. This represents a 30.58% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael Stephen Wright sold 6,500 shares of the company's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $13.85, for a total transaction of $90,025.00. Following the completion of the sale, the insider now owns 14,195 shares of the company's stock, valued at approximately $196,600.75. This represents a 31.41% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Perpetua Resources
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ancora Advisors LLC acquired a new position in Perpetua Resources in the 4th quarter worth $37,000. GAMMA Investing LLC boosted its stake 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 purchasing an additional 4,063 shares during the period. North Capital Inc. acquired a new position in Perpetua Resources in the 1st quarter worth $53,000. BNP Paribas Financial Markets acquired a new position in Perpetua Resources in the 4th quarter worth $55,000. Finally, Quantbot Technologies LP acquired a new position in Perpetua Resources in the 1st quarter worth $76,000. 70.07% of the stock is owned by institutional investors and hedge funds.
About Perpetua Resources
(
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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