Perpetua Resources (NASDAQ:PPTA) Shares Gap Up on Analyst Upgrade

Perpetua Resources Corp. (NASDAQ:PPTA) shares gapped up prior to trading on Friday after HC Wainwright raised their price target on the stock from $13.25 to $22.00. The stock had previously closed at $9.10, but opened at $9.43. HC Wainwright currently has a buy rating on the stock. Perpetua Resources shares last traded at $9.77, with a volume of 132,325 shares trading hands.

Several other equities research analysts also recently commented on PPTA. Roth Mkm upped their price objective on shares of Perpetua Resources from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. National Bank Financial began coverage on shares of Perpetua Resources in a report on Friday, September 6th. They set an “outperform” rating on the stock.

Insider Transactions at Perpetua Resources

In related news, insider Alan Douglas Haslam sold 40,000 shares of the business’s 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 completion of the transaction, the insider now directly owns 65,571 shares in the company, valued at $660,299.97. The trade was a 37.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PPTA. PEAK6 Investments LLC purchased a new position in shares of Perpetua Resources during the 3rd quarter valued at about $243,000. Quantbot Technologies LP bought a new position in Perpetua Resources during the third quarter valued at approximately $123,000. Intech Investment Management LLC purchased a new position in shares of Perpetua Resources during the third quarter worth approximately $98,000. Fourth Sail Capital LP bought a new stake in shares of Perpetua Resources in the 3rd quarter worth approximately $10,405,000. Finally, U S Global Investors Inc. purchased a new stake in shares of Perpetua Resources in the 3rd quarter valued at $234,000. Hedge funds and other institutional investors own 70.07% of the company’s stock.

Perpetua Resources Trading Up 8.8 %

The company has a market cap of $659.04 million, a P/E ratio of -44.95 and a beta of 0.27. The company’s fifty day moving average is $9.37 and its 200 day moving average is $7.49.

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.