Perpetua Resources (NASDAQ:PPTA) Shares Gap Up - Time to Buy?

Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $13.06, but opened at $13.62. Perpetua Resources shares last traded at $13.51, with a volume of 2,176,235 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. National Bank Financial raised shares of Perpetua Resources to a "strong-buy" rating in a research report on Friday, March 21st. HC Wainwright reissued a "buy" rating and set a $27.50 target price on shares of Perpetua Resources in a research report on Tuesday, June 17th. National Bankshares reissued an "outperform" rating on shares of Perpetua Resources in a research report on Wednesday, June 18th. Finally, B. Riley reissued a "buy" rating and set a $17.00 target price (up from $16.00) on shares of Perpetua Resources in a research report on Wednesday, June 18th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $21.17.

Perpetua Resources Stock Up 1.0%

The company's fifty day moving average is $13.80 and its 200 day moving average is $12.11.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.07). On average, analysts predict that Perpetua Resources Corp. will post -0.21 earnings per share for the current year.

Insider Activity at Perpetua Resources

In related news, insider Michael Stephen Wright sold 6,500 shares of the firm's 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 completion of the transaction, the insider directly owned 14,195 shares of the company's stock, valued at approximately $196,600.75. This trade represents a 31.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Paulson & Co. Inc. acquired 7,575,757 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was acquired at an average cost of $13.20 per share, with a total value of $99,999,992.40. Following the completion of the acquisition, the insider owned 32,347,299 shares in the company, valued at $426,984,346.80. This trade represents a 30.58% increase in their position. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Lowe Wealth Advisors LLC bought a new position in Perpetua Resources in the 2nd quarter valued at $26,000. Ancora Advisors LLC bought a new position in Perpetua Resources in the 4th quarter valued at $37,000. GAMMA Investing LLC boosted 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 valued at $46,000 after purchasing an additional 4,063 shares during the period. North Capital Inc. bought a new position in Perpetua Resources in the 1st quarter valued at $53,000. Finally, BNP Paribas Financial Markets bought a new position in Perpetua Resources in the 4th quarter valued at $55,000. 70.07% of the stock is owned by institutional investors.

Perpetua Resources Company Profile

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.