K2 Principal Fund L.P. Takes $1.81 Million Position in Perpetua Resources Corp. (NASDAQ:PPTA)

K2 Principal Fund L.P. purchased a new position in shares of Perpetua Resources Corp. (NASDAQ:PPTA) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 170,000 shares of the company’s stock, valued at approximately $1,814,000.

Other hedge funds have also added to or reduced their stakes in the company. Deutsche Bank AG increased its position in Perpetua Resources by 64.0% during the 4th quarter. Deutsche Bank AG now owns 30,891 shares of the company’s stock worth $330,000 after buying an additional 12,060 shares during the period. Condire Management LP grew its stake in shares of Perpetua Resources by 6.9% in the fourth quarter. Condire Management LP now owns 890,459 shares of the company’s stock valued at $9,501,000 after acquiring an additional 57,399 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Perpetua Resources by 13.7% in the fourth quarter. Bank of America Corp DE now owns 55,413 shares of the company’s stock valued at $591,000 after acquiring an additional 6,661 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Perpetua Resources in the 4th quarter worth about $55,000. Finally, Ancora Advisors LLC bought a new stake in Perpetua Resources in the 4th quarter valued at about $37,000. 70.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Andrew Phillip Cole purchased 9,450 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were bought at an average cost of $7.99 per share, with a total value of $75,505.50. Following 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert Alan Dean acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was bought 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 in the company, valued at $83,200. The trade was a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 20,230 shares of company stock valued at $166,582 and sold 59,610 shares valued at $606,423. Insiders own 1.50% of the company’s stock.

Perpetua Resources Trading Up 5.1 %

Shares of Perpetua Resources stock opened at $15.20 on Friday. The company has a 50 day moving average of $11.83 and a 200-day moving average of $11.12. The company has a market cap of $1.08 billion, a PE ratio of -69.09 and a beta of 0.06. Perpetua Resources Corp. has a 1-year low of $5.01 and a 1-year high of $15.44.

Perpetua Resources (NASDAQ:PPTA) last issued its earnings results on Friday, May 9th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.10). Research analysts forecast that Perpetua Resources Corp. will post -0.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. HC Wainwright raised their target price on shares of Perpetua Resources from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, March 21st. National Bankshares reaffirmed an “outperform” rating on shares of Perpetua Resources in a report on Wednesday, April 2nd. Finally, National Bank Financial raised Perpetua Resources to a “strong-buy” rating in a report on Friday, March 21st.

Perpetua Resources 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.