Perpetua Resources (NASDAQ:PPTA) Stock Price Up 7.8% – What’s Next?

Perpetua Resources Corp. (NASDAQ:PPTA) was up 7.8% during mid-day trading on Monday . The company traded as high as $12.60 and last traded at $12.75. Approximately 191,638 shares traded hands during trading, a decline of 66% from the average daily volume of 559,736 shares. The stock had previously closed at $11.83.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PPTA shares. Roth Mkm lifted their price target on shares of Perpetua Resources from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. HC Wainwright lifted their target price on Perpetua Resources from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, March 21st. National Bank Financial upgraded Perpetua Resources to a “strong-buy” rating in a report on Friday, March 21st. Finally, National Bankshares reissued an “outperform” rating on shares of Perpetua Resources in a research note on Wednesday, April 2nd.

Perpetua Resources Trading Down 3.5 %

The company has a fifty day moving average of $10.20 and a 200-day moving average of $10.54. The stock has a market cap of $936.28 million, a PE ratio of -60.27 and a beta of 0.12.

Perpetua Resources (NASDAQ:PPTA) last issued its quarterly earnings results on Wednesday, March 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. As a group, research analysts anticipate that Perpetua Resources Corp. will post -0.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Perpetua Resources

In other news, insider Alan Douglas Haslam sold 10,400 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $9.24, for a total value of $96,096.00. Following the sale, the insider now directly owns 65,763 shares in the company, valued at approximately $607,650.12. This trade represents 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 Andrew Phillip Cole bought 9,450 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was bought at an average price of $7.99 per share, with a total value of $75,505.50. Following the completion of the acquisition, the director now owns 9,450 shares of the company’s stock, valued at $75,505.50. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 20,230 shares of company stock valued at $166,582 and sold 53,110 shares valued at $516,398. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Perpetua Resources

A number of institutional investors and hedge funds have recently modified their holdings of the company. Amundi acquired a new stake in shares of Perpetua Resources during the 4th quarter worth about $7,788,000. Millennium Management LLC lifted its position in shares of Perpetua Resources by 226.7% during the 4th quarter. Millennium Management LLC now owns 370,536 shares of the company’s stock worth $3,954,000 after buying an additional 257,130 shares during the last quarter. Cohen & Steers Inc. acquired a new position in shares of Perpetua Resources in the 4th quarter valued at $2,729,000. Yaupon Capital Management LP purchased a new position in shares of Perpetua Resources in the 4th quarter valued at $2,668,000. Finally, Polar Asset Management Partners Inc. acquired a new stake in Perpetua Resources during the 4th quarter worth $1,937,000. Institutional investors and hedge funds own 70.07% of the company’s stock.

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.