Van ECK Associates Corp Has $54.43 Million Stock Position in Perpetua Resources Corp. $PPTA

Van ECK Associates Corp trimmed its stake in Perpetua Resources Corp. (NASDAQ:PPTA) by 3.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,622,292 shares of the company’s stock after selling 81,326 shares during the period. Van ECK Associates Corp’s holdings in Perpetua Resources were worth $54,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Osterweis Capital Management Inc. bought a new position in Perpetua Resources during the second quarter valued at about $26,000. Smartleaf Asset Management LLC bought a new stake in shares of Perpetua Resources in the 4th quarter worth approximately $31,000. UMB Bank n.a. acquired a new stake in shares of Perpetua Resources during the 4th quarter worth approximately $36,000. Kestra Advisory Services LLC acquired a new stake in shares of Perpetua Resources during the 4th quarter worth approximately $40,000. Finally, Pilgrim Partners Asia Pte Ltd increased its position in shares of Perpetua Resources by 225.0% during the fourth quarter. Pilgrim Partners Asia Pte Ltd now owns 2,600 shares of the company’s stock valued at $63,000 after purchasing an additional 1,800 shares during the period. Institutional investors and hedge funds own 70.07% of the company’s stock.

Analyst Upgrades and Downgrades

PPTA has been the subject of a number of recent research reports. B. Riley Financial initiated coverage on shares of Perpetua Resources in a research note on Monday, August 3rd. They issued a “buy” rating and a $30.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $43.50 target price on shares of Perpetua Resources in a research report on Tuesday, August 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a research note on Friday, July 17th. Finally, Zacks Research raised shares of Perpetua Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Perpetua Resources currently has an average rating of “Moderate Buy” and a consensus price target of $35.90.

Perpetua Resources Stock Down 4.1%

Shares of Perpetua Resources stock opened at $25.11 on Friday. Perpetua Resources Corp. has a 12-month low of $16.43 and a 12-month high of $37.37. The stock has a market capitalization of $3.14 billion, a P/E ratio of -12.43 and a beta of 0.09. The company has a 50-day simple moving average of $21.50 and a 200 day simple moving average of $26.19.

Perpetua Resources (NASDAQ:PPTA) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.59). During the same quarter in the previous year, the business posted $0.08 EPS. On average, equities analysts anticipate that Perpetua Resources Corp. will post -2.16 earnings per share for the current year.

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. The company was formerly known as Midas Gold Corp. and changed its name to Perpetua Resources Corp.