Perpetua Resources (NASDAQ:PPTA) Trading 8.8% Higher – Time to Buy?

Perpetua Resources Corp. (NASDAQ:PPTA) shares were up 8.8% on Monday . The company traded as high as $10.76 and last traded at $10.71. Approximately 243,870 shares changed hands during trading, a decline of 49% from the average daily volume of 479,809 shares. The stock had previously closed at $9.84.

Analyst Ratings Changes

Several analysts have commented on the stock. Roth Mkm lifted their price objective on shares of Perpetua Resources from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. HC Wainwright lifted their target price on shares of Perpetua Resources from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th.

Perpetua Resources Price Performance

The stock has a market cap of $727.47 million, a PE ratio of -47.10 and a beta of 0.27. The firm’s 50 day moving average price is $10.69 and its two-hundred day moving average price is $10.19.

Insider Transactions at Perpetua Resources

In related news, insider Alan Douglas Haslam sold 10,400 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $9.24, for a total transaction of $96,096.00. Following the completion of the transaction, the insider now owns 65,763 shares of the company’s stock, valued at approximately $607,650.12. The trade was a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Alan Dean acquired 5,000 shares of Perpetua Resources stock in a transaction that occurred on Friday, February 21st. The shares were purchased at an average cost of $8.32 per share, with a total value of $41,600.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at $83,200. This represents a 100.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 20,230 shares of company stock worth $166,582 over the last quarter. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Perpetua Resources

Hedge funds have recently bought and sold shares of the stock. Sprott Inc. lifted its holdings in shares of Perpetua Resources by 5.3% in the 4th quarter. Sprott Inc. now owns 2,938,871 shares of the company’s stock worth $31,358,000 after acquiring an additional 148,273 shares during the last quarter. Fourth Sail Capital LP bought a new stake in shares of Perpetua Resources in the 3rd quarter worth approximately $10,405,000. Condire Management LP lifted its holdings in shares of Perpetua Resources by 6.9% in the 4th quarter. Condire Management LP now owns 890,459 shares of the company’s stock worth $9,501,000 after acquiring an additional 57,399 shares during the last quarter. Amundi bought a new stake in shares of Perpetua Resources in the 4th quarter worth approximately $7,788,000. Finally, State Street Corp lifted its holdings in shares of Perpetua Resources by 8.8% in the 3rd quarter. State Street Corp now owns 593,502 shares of the company’s stock worth $5,549,000 after acquiring an additional 48,220 shares during the last quarter. 70.07% of the stock is currently 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.