Perpetua Resources (NASDAQ:PPTA) Sets New 12-Month High - Here's What Happened

Key Points

• Perpetua Resources Corp. has reached a new 52-week high, trading at $24.08, with a recent closing price of $22.99.
• Wall Street analysts have provided positive ratings, with one "Strong Buy", six "Buy", and a target price consensus of $24.25, indicating expected growth.
• Institutional investors own over 70% of the company's stock, demonstrating significant interest and confidence in Perpetua Resources.

Shares of Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $24.08 and last traded at $22.99, with a volume of 527132 shares. The stock had previously closed at $21.84.

Wall Street Analysts Forecast Growth

PPTA has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Perpetua Resources from a "sell" rating to a "hold" rating in a research note on Saturday, September 20th. HC Wainwright reissued a "buy" rating and issued a $30.00 target price on shares of Perpetua Resources in a research note on Tuesday, September 23rd. Royal Bank Of Canada assumed coverage on shares of Perpetua Resources in a research note on Friday, July 18th. They set an "outperform" rating and a $23.00 price target for the company. National Bankshares reaffirmed an "outperform" rating on shares of Perpetua Resources in a report on Wednesday, June 18th. Finally, B. Riley increased their target price on Perpetua Resources from $23.00 to $25.00 and gave the stock a "buy" rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Perpetua Resources currently has an average rating of "Moderate Buy" and a consensus target price of $24.25.

Perpetua Resources Stock Performance

The firm's fifty day simple moving average is $17.92 and its 200 day simple moving average is $15.03. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of -77.01 and a beta of 0.01.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.06. Analysts forecast 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 10,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $18.31, for a total value of $183,100.00. Following the sale, the insider owned 14,195 shares in the company, valued at approximately $259,910.45. The trade was a 41.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. lifted its position in Perpetua Resources by 157.2% during the 2nd quarter. Osaic Holdings Inc. now owns 17,546 shares of the company's stock worth $213,000 after buying an additional 10,723 shares in the last quarter. NewGen Asset Management Ltd acquired a new stake in shares of Perpetua Resources in the second quarter valued at about $3,338,000. Tower Research Capital LLC TRC raised its holdings in Perpetua Resources by 4.6% during the second quarter. Tower Research Capital LLC TRC now owns 15,872 shares of the company's stock worth $193,000 after acquiring an additional 697 shares in the last quarter. Captrust Financial Advisors acquired a new position in Perpetua Resources during the second quarter valued at approximately $201,000. Finally, Oxford Asset Management LLP bought a new position in Perpetua Resources in the second quarter valued at approximately $157,000. Institutional investors own 70.07% of the company's stock.

About Perpetua Resources

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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