Perpetua Resources (NASDAQ:PPTA) Shares Up 7.1% – Here’s Why

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) were up 7.1% during trading on Tuesday . The company traded as high as $11.44 and last traded at $11.44. Approximately 402,432 shares traded hands during mid-day trading, an increase of 20% from the average daily volume of 335,366 shares. The stock had previously closed at $10.68.

Wall Street Analyst Weigh In

PPTA has been the topic of several research reports. HC Wainwright raised their price objective on Perpetua Resources from $13.25 to $22.00 and gave the company a “buy” rating in a research report on Friday, November 15th. National Bank Financial assumed coverage on Perpetua Resources in a research note on Friday, September 6th. They set an “outperform” rating for the company. Finally, Roth Mkm reiterated a “buy” rating and set a $15.00 target price on shares of Perpetua Resources in a research note on Thursday, December 12th.

Perpetua Resources Trading Up 7.4 %

The firm has a market capitalization of $804.80 million, a price-to-earnings ratio of -52.14 and a beta of 0.22. The business has a 50-day moving average price of $10.39 and a two-hundred day moving average price of $8.47.

Insider Buying and Selling

In related news, insider Alan Douglas Haslam sold 40,000 shares of Perpetua Resources stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $10.07, for a total transaction of $402,800.00. Following the transaction, the insider now directly owns 65,571 shares of the company’s stock, valued at $660,299.97. The trade was a 37.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Perpetua Resources

Large investors have recently modified their holdings of the stock. Herr Investment Group LLC increased its stake in Perpetua Resources by 5.8% in the 2nd quarter. Herr Investment Group LLC now owns 1,450,498 shares of the company’s stock worth $7,543,000 after purchasing an additional 80,000 shares in the last quarter. Fourth Sail Capital LP purchased a new position in Perpetua Resources during the 3rd quarter worth approximately $10,405,000. State Street Corp raised its stake in Perpetua Resources by 8.8% during the 3rd quarter. State Street Corp now owns 593,502 shares of the company’s stock valued at $5,549,000 after purchasing an additional 48,220 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Perpetua Resources by 0.5% in the third quarter. Geode Capital Management LLC now owns 484,829 shares of the company’s stock valued at $4,533,000 after purchasing an additional 2,252 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Perpetua Resources by 20.0% in the second quarter. Bank of New York Mellon Corp now owns 107,551 shares of the company’s stock worth $559,000 after buying an additional 17,954 shares during the period. 70.07% of the stock is 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.