Perpetua Resources (NASDAQ:PPTA) Stock Price Up 6.3% After Analyst Upgrade

Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) was up 6.3% during mid-day trading on Wednesday after B. Riley raised their price target on the stock from $16.00 to $17.00. B. Riley currently has a buy rating on the stock. Perpetua Resources traded as high as $13.90 and last traded at $13.89. Approximately 2,969,159 shares changed hands during trading, an increase of 137% from the average daily volume of 1,254,169 shares. The stock had previously closed at $13.07.

Other equities analysts have also issued reports about the stock. HC Wainwright reaffirmed a "buy" rating and set a $27.50 target price on shares of Perpetua Resources in a research report on Tuesday. National Bank Financial upgraded Perpetua Resources to a "strong-buy" rating in a report on Friday, March 21st. Finally, National Bankshares restated an "outperform" rating on shares of Perpetua Resources in a research note on Wednesday, April 2nd. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $21.17.

Insider Activity at Perpetua Resources

In related news, insider Mckinsey Margaret Lyon sold 20,000 shares of Perpetua Resources stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $11.00, for a total transaction of $220,000.00. Following the transaction, the insider now owns 89,154 shares in the company, valued at approximately $980,694. This trade represents a 18.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael Stephen Wright sold 6,500 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $13.85, for a total value of $90,025.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Perpetua Resources

Institutional investors have recently modified their holdings of the business. DLD Asset Management LP purchased a new position in shares of Perpetua Resources in the 1st quarter valued at about $1,069,000. Rhumbline Advisers boosted its holdings in shares of Perpetua Resources by 6.0% in the 1st quarter. Rhumbline Advisers now owns 64,688 shares of the company's stock valued at $692,000 after purchasing an additional 3,672 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Perpetua Resources by 1.7% during the first quarter. Goldman Sachs Group Inc. now owns 108,921 shares of the company's stock worth $1,164,000 after acquiring an additional 1,835 shares during the last quarter. Millennium Management LLC grew 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 buying an additional 811,363 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Perpetua Resources by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,958 shares of the company's stock worth $672,000 after buying an additional 2,680 shares in the last quarter. Institutional investors and hedge funds own 70.07% of the company's stock.

Perpetua Resources Stock Performance

The firm has a fifty day simple moving average of $13.98 and a 200-day simple moving average of $11.95. The company has a market capitalization of $1.00 billion, a PE ratio of -48.23 and a beta of 0.02.

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

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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