Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 1,572,478 shares traded hands during mid-day 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.
Analyst Ratings Changes
A number of research analysts recently weighed in on PPTA shares. B. Riley reissued a "buy" rating and set a $17.00 target price (up from $16.00) on shares of Perpetua Resources in a report on Wednesday, June 18th. National Bank Financial raised shares of Perpetua Resources to a "strong-buy" rating in a research report on Friday, March 21st. HC Wainwright reaffirmed a "buy" rating and set a $27.50 target price on shares of Perpetua Resources in a report on Tuesday, June 17th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Perpetua Resources in a research report on Wednesday. Four research 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.com, the stock currently has a consensus rating of "Buy" and an average price target of $21.17.
Read Our Latest Research Report on Perpetua Resources
Perpetua Resources Trading Up 0.6%
The firm has a market cap of $935.03 million, a price-to-earnings ratio of -44.91 and a beta of 0.02. The firm's 50 day simple moving average is $14.10 and its two-hundred day simple moving average is $12.02.
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 for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.07). As a group, equities research analysts anticipate that Perpetua Resources Corp. will post -0.21 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Perpetua Resources news, major shareholder Paulson & Co. Inc. acquired 7,575,757 shares of Perpetua Resources stock in a transaction that occurred on Monday, June 16th. The shares were acquired at an average cost of $13.20 per share, with a total value of $99,999,992.40. Following the completion of the purchase, the insider now directly owns 32,347,299 shares of the company's stock, valued at $426,984,346.80. This represents a 30.58% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mckinsey Margaret Lyon sold 20,000 shares of Perpetua Resources stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $11.00, for a total value of $220,000.00. Following the completion of the transaction, the insider now owns 89,154 shares in the company, valued at approximately $980,694. This represents a 18.32% decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.
Institutional Investors Weigh In On Perpetua Resources
A number of hedge funds have recently made changes to their positions in PPTA. Sprott Inc. increased its position in Perpetua Resources by 15.5% in the 1st quarter. Sprott Inc. now owns 3,395,395 shares of the company's stock valued at $36,297,000 after acquiring an additional 456,524 shares during the period. Encompass Capital Advisors LLC acquired a new stake in Perpetua Resources in the first quarter valued at $15,745,000. Millennium Management LLC raised its position in Perpetua Resources by 219.0% during the 1st 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. Amundi lifted its holdings in Perpetua Resources by 39.4% during the 1st quarter. Amundi now owns 1,017,573 shares of the company's stock worth $11,397,000 after buying an additional 287,664 shares during the period. Finally, Condire Management LP increased its stake in shares of Perpetua Resources by 6.9% in the fourth quarter. Condire Management LP now owns 890,459 shares of the company's stock valued at $9,501,000 after buying an additional 57,399 shares during the period. 70.07% of the stock is currently 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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