Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) shares traded down 6.3% on Tuesday . The company traded as low as $12.45 and last traded at $12.29. 876,912 shares were traded during mid-day trading, a decline of 13% from the average session volume of 1,010,143 shares. The stock had previously closed at $13.11.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on PPTA shares. National Bank Financial upgraded shares of Perpetua Resources to a "strong-buy" rating in a report on Friday, March 21st. National Bankshares reiterated an "outperform" rating on shares of Perpetua Resources in a report on Wednesday, June 18th. HC Wainwright reiterated a "buy" rating and set a $27.50 price target on shares of Perpetua Resources in a report on Tuesday, June 17th. Finally, B. Riley restated a "buy" rating and set a $17.00 price objective (up previously from $16.00) on shares of Perpetua Resources in a research report on Wednesday, June 18th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $21.17.
Read Our Latest Report on PPTA
Perpetua Resources Stock Performance
The stock has a market capitalization of $1.23 billion, a P/E ratio of -44.00 and a beta of -0.04. The company's 50-day moving average price is $13.86 and its 200 day moving average price is $12.05.
Perpetua Resources (NASDAQ:PPTA - Get Free Report) last posted its earnings results 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). Analysts predict that Perpetua Resources Corp. will post -0.21 earnings per share for the current year.
Insider Buying and Selling at Perpetua Resources
In other Perpetua Resources news, insider Michael Stephen Wright sold 6,500 shares of Perpetua Resources stock in a transaction 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 $196,600.75. This trade represents a 31.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Paulson & Co. Inc. acquired 7,575,757 shares of the company's stock in a transaction 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 purchase, the insider directly owned 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 disclosure for this purchase can be found here. Company insiders own 1.90% of the company's stock.
Hedge Funds Weigh In On Perpetua Resources
A number of large investors have recently made changes to their positions in PPTA. Encompass Capital Advisors LLC purchased a new position in shares of Perpetua Resources during the 1st quarter worth about $15,745,000. Millennium Management LLC boosted its stake in shares of 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 period. Amundi purchased a new position in shares of Perpetua Resources during the 4th quarter worth about $7,788,000. Sprott Inc. boosted its stake in shares of Perpetua Resources by 15.5% during the 1st quarter. Sprott Inc. now owns 3,395,395 shares of the company's stock worth $36,297,000 after purchasing an additional 456,524 shares during the period. Finally, Mackenzie Financial Corp purchased a new position in shares of Perpetua Resources during the 1st quarter worth about $2,734,000. 70.07% of the stock is owned by hedge funds and other institutional investors.
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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