Fourth Sail Capital LP Makes New Investment in Perpetua Resources Corp. $PPTA

Fourth Sail Capital LP purchased a new stake in Perpetua Resources Corp. (NASDAQ:PPTA) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,003,700 shares of the company’s stock, valued at approximately $12,185,000. Perpetua Resources comprises 2.5% of Fourth Sail Capital LP’s portfolio, making the stock its 20th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Monaco Asset Management SAM acquired a new position in shares of Perpetua Resources in the second quarter valued at approximately $12,662,000. Rathbones Group PLC increased its holdings in Perpetua Resources by 12.2% in the 2nd quarter. Rathbones Group PLC now owns 19,340 shares of the company’s stock valued at $234,000 after buying an additional 2,100 shares during the period. Los Angeles Capital Management LLC bought a new position in Perpetua Resources in the 2nd quarter valued at approximately $228,000. Pekin Hardy Strauss Inc. bought a new position in shares of Perpetua Resources during the second quarter valued at $1,651,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Perpetua Resources during the 2nd quarter valued at approximately $707,000. Institutional investors and hedge funds own 70.07% of the company’s stock.

Insider Buying and Selling

In other news, insider Michael Stephen Wright sold 10,000 shares of Perpetua Resources stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $18.31, for a total transaction of $183,100.00. Following the transaction, the insider owned 14,195 shares in the company, valued at $259,910.45. The trade was a 41.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan Cherry sold 14,911 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $23.72, for a total transaction of $353,688.92. Following the completion of the sale, the insider directly owned 36,249 shares of the company’s stock, valued at approximately $859,826.28. This trade represents a 29.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.90% of the company’s stock.

Perpetua Resources Trading Up 6.9%

NASDAQ:PPTA opened at $22.28 on Monday. Perpetua Resources Corp. has a twelve month low of $7.81 and a twelve month high of $31.65. The company has a market cap of $2.71 billion, a price-to-earnings ratio of -71.87 and a beta of 0.02. The stock has a fifty day simple moving average of $21.56 and a 200-day simple moving average of $17.32.

Perpetua Resources (NASDAQ:PPTA) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.06. As a group, equities research analysts predict that Perpetua Resources Corp. will post -0.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PPTA shares. Roth Capital set a $32.00 target price on Perpetua Resources and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Wall Street Zen cut shares of Perpetua Resources from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Perpetua Resources in a report on Tuesday, September 23rd. B. Riley reiterated a “buy” rating on shares of Perpetua Resources in a report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Perpetua Resources in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $29.00.

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.