Polar Asset Management Partners Inc. Makes New Investment in Perpetua Resources Corp. (NASDAQ:PPTA)

Polar Asset Management Partners Inc. acquired a new stake in Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 181,491 shares of the company's stock, valued at approximately $1,937,000. Polar Asset Management Partners Inc. owned 0.26% of Perpetua Resources at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can increased its position in shares of Perpetua Resources by 1.6% during the fourth quarter. Bank of Montreal Can now owns 67,594 shares of the company's stock worth $721,000 after acquiring an additional 1,054 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Perpetua Resources by 24.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,722 shares of the company's stock worth $168,000 after acquiring an additional 3,067 shares in the last quarter. Lane & Associates LLC raised its stake in Perpetua Resources by 24.0% during the 4th quarter. Lane & Associates LLC now owns 15,987 shares of the company's stock worth $189,000 after acquiring an additional 3,095 shares in the last quarter. Ancora Advisors LLC purchased a new stake in Perpetua Resources in the fourth quarter valued at $37,000. Finally, Northern Trust Corp boosted its stake in Perpetua Resources by 2.1% in the fourth quarter. Northern Trust Corp now owns 238,779 shares of the company's stock valued at $2,548,000 after acquiring an additional 4,816 shares in the last quarter. Institutional investors and hedge funds own 70.07% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. HC Wainwright reduced their target price on Perpetua Resources from $28.00 to $27.50 and set a "buy" rating for the company in a report on Tuesday. National Bank Financial upgraded Perpetua Resources to a "strong-buy" rating in a research note on Friday, March 21st. Finally, National Bankshares reissued an "outperform" rating on shares of Perpetua Resources in a report on Wednesday, April 2nd.

Insider Activity at Perpetua Resources

In other Perpetua Resources news, insider Mckinsey Margaret Lyon sold 22,710 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $8.82, for a total value of $200,302.20. Following the completion of the transaction, the insider now directly owns 89,154 shares of the company's stock, valued at approximately $786,338.28. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert Alan Dean purchased 5,000 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were purchased at an average cost of $8.32 per share, for a total transaction of $41,600.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $83,200. This represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 20,230 shares of company stock worth $166,582 and have sold 59,610 shares worth $606,423. Company insiders own 1.50% of the company's stock.

Perpetua Resources Trading Down 1.9%

NASDAQ:PPTA opened at $11.94 on Friday. Perpetua Resources Corp. has a 12-month low of $5.01 and a 12-month high of $15.44. The stock's 50 day simple moving average is $12.14 and its 200-day simple moving average is $11.18. The firm has a market cap of $851.15 million, a P/E ratio of -54.27 and a beta of 0.06.

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

Perpetua Resources 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.

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