Monaco Asset Management SAM Purchases Shares of 1,043,000 Perpetua Resources Corp. $PPTA

Monaco Asset Management SAM acquired a new stake in Perpetua Resources Corp. (NASDAQ:PPTA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,043,000 shares of the company’s stock, valued at approximately $12,662,000. Perpetua Resources comprises about 2.2% of Monaco Asset Management SAM’s holdings, making the stock its 5th biggest holding. Monaco Asset Management SAM owned approximately 0.97% of Perpetua Resources as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PPTA. Lowe Wealth Advisors LLC bought a new position in shares of Perpetua Resources in the 2nd quarter valued at about $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in Perpetua Resources in the 2nd quarter valued at about $39,000. Quantbot Technologies LP bought a new position in Perpetua Resources during the first quarter worth about $76,000. KLP Kapitalforvaltning AS acquired a new position in Perpetua Resources during the first quarter worth approximately $94,000. Finally, Sowell Financial Services LLC acquired a new position in Perpetua Resources during the second quarter worth approximately $121,000. 70.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PPTA has been the topic of a number of recent analyst reports. Roth Capital set a $32.00 target price on Perpetua Resources and gave the stock a “buy” rating in a report on Wednesday, October 22nd. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Perpetua Resources in a report on Tuesday, September 23rd. Zacks Research raised shares of Perpetua Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. B. Riley reiterated a “buy” rating on shares of Perpetua Resources in a report on Thursday, October 30th. Finally, Weiss Ratings reissued 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 issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $29.00.

Perpetua Resources Trading Up 6.9%

Shares of PPTA opened at $22.28 on Friday. Perpetua Resources Corp. has a 12 month low of $7.81 and a 12 month high of $31.65. The firm’s 50 day moving average is $21.56 and its 200-day moving average is $17.29. The stock has a market capitalization of $2.71 billion, a PE ratio of -71.87 and a beta of 0.02.

Perpetua Resources (NASDAQ:PPTA) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06. Equities research analysts predict that Perpetua Resources Corp. will post -0.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jonathan Cherry sold 14,911 shares of the company’s stock in a transaction on Monday, October 6th. The stock was 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 in the company, valued at $859,826.28. This represents a 29.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Stephen Wright sold 10,000 shares of Perpetua Resources stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $18.31, for a total value of $183,100.00. Following the completion of the transaction, the insider owned 14,195 shares in the company, valued at approximately $259,910.45. This represents a 41.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.50% 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.