Perpetua Resources Sees Unusually High Options Volume (NASDAQ:PPTA)

Key Points

• Perpetua Resources Corp. experienced a 128% increase in call options trading volume, with 13,681 call options purchased, compared to an average of 5,993.
• Insider Michael Stephen Wright sold 10,000 shares of Perpetua Resources at $18.31 each, decreasing his ownership by 41.33%.
• Analysts have given Perpetua Resources a consensus rating of "Buy" with a target price averaging $23.75, following several recent upgrades.

Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) was the target of unusually large options trading on Friday. Investors bought 13,681 call options on the company. This is an increase of 128% compared to the typical daily volume of 5,993 call options.

Insider Buying and Selling

In other Perpetua Resources news, insider Michael Stephen Wright sold 10,000 shares of Perpetua Resources 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 transaction, the insider directly owned 14,195 shares of the company's stock, valued at $259,910.45. The trade was a 41.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Lowe Wealth Advisors LLC purchased a new position in shares of Perpetua Resources in the 2nd quarter valued at $26,000. Steward Partners Investment Advisory LLC acquired a new stake in Perpetua Resources during the 2nd quarter worth about $31,000. Caitong International Asset Management Co. Ltd acquired a new stake in Perpetua Resources during the 2nd quarter worth about $39,000. GAMMA Investing LLC lifted its holdings in shares of 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 buying an additional 4,063 shares during the period. Finally, North Capital Inc. acquired a new position in shares of Perpetua Resources in the 1st quarter valued at about $53,000. 70.07% of the stock is currently owned by hedge funds and other institutional investors.

Perpetua Resources Price Performance

Shares of NASDAQ:PPTA traded up $1.73 during trading on Friday, hitting $20.73. The company had a trading volume of 4,575,959 shares, compared to its average volume of 1,834,136. The stock has a market cap of $2.23 billion and a price-to-earnings ratio of -67.12. Perpetua Resources has a one year low of $7.81 and a one year high of $22.62. The company has a fifty day simple moving average of $17.45 and a two-hundred day simple moving average of $14.52.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.06. On average, equities research analysts anticipate that Perpetua Resources will post -0.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

PPTA has been the topic of several analyst reports. B. Riley boosted their target price on Perpetua Resources from $17.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Royal Bank Of Canada began coverage on Perpetua Resources in a report on Friday, July 18th. They issued an "outperform" rating and a $23.00 target price on the stock. Wall Street Zen upgraded Perpetua Resources from a "sell" rating to a "hold" rating in a research report on Saturday, September 20th. HC Wainwright restated a "buy" rating and issued a $30.00 price target on shares of Perpetua Resources in a research report on Tuesday. Finally, National Bankshares reiterated an "outperform" rating on shares of Perpetua Resources in a research report on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company's stock. According to MarketBeat, Perpetua Resources presently has a consensus rating of "Buy" and a consensus target price of $23.75.

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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