Perpetua Resources Corp. (NASDAQ:PPTA) Short Interest Up 30.4% in March

Perpetua Resources Corp. (NASDAQ:PPTA) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 4,380,000 shares, an increase of 30.4% from the March 15th total of 3,360,000 shares. Approximately 6.2% of the company’s shares are sold short. Based on an average daily trading volume, of 986,400 shares, the short-interest ratio is currently 4.4 days.

Perpetua Resources Price Performance

NASDAQ:PPTA opened at $13.15 on Friday. Perpetua Resources has a one year low of $4.96 and a one year high of $13.81. The company’s 50-day simple moving average is $10.27 and its 200 day simple moving average is $10.62. The firm has a market capitalization of $928.51 million, a P/E ratio of -59.77 and a beta of 0.12.

Perpetua Resources (NASDAQ:PPTA) last posted its quarterly earnings data on Wednesday, March 19th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. On average, equities research analysts expect that Perpetua Resources will post -0.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Transactions at Perpetua Resources

In related news, insider Alan Douglas Haslam sold 10,400 shares of Perpetua Resources stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $9.24, for a total value of $96,096.00. Following the transaction, the insider now directly owns 65,763 shares of the company’s stock, valued at $607,650.12. The trade was a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Alan Dean purchased 5,000 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 10,000 shares in the company, valued at $83,200. This trade represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 20,230 shares of company stock worth $166,582 and have sold 53,110 shares worth $516,398. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Perpetua Resources

Several large investors have recently modified their holdings of the stock. Ancora Advisors LLC bought a new stake in Perpetua Resources during the 4th quarter valued at about $37,000. GAMMA Investing LLC grew its holdings in shares of Perpetua Resources by 1,658.4% during the first quarter. GAMMA Investing LLC now owns 4,308 shares of the company’s stock valued at $46,000 after buying an additional 4,063 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Perpetua Resources during the fourth quarter valued at approximately $55,000. ProShare Advisors LLC purchased a new position in Perpetua Resources in the 4th quarter worth approximately $116,000. Finally, ExodusPoint Capital Management LP bought a new position in Perpetua Resources in the 4th quarter valued at approximately $140,000. Hedge funds and other institutional investors own 70.07% of the company’s stock.

About Perpetua Resources

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.