Encompass Capital Advisors LLC Acquires New Stake in Perpetua Resources Corp. $PPTA

Encompass Capital Advisors LLC acquired a new stake in shares of Perpetua Resources Corp. (NASDAQ:PPTA) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 168,750 shares of the company’s stock, valued at approximately $4,085,000. Encompass Capital Advisors LLC owned about 0.14% of Perpetua Resources as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC acquired a new stake in Perpetua Resources in the 4th quarter worth about $31,000. UMB Bank n.a. acquired a new stake in Perpetua Resources in the 4th quarter worth about $36,000. Kestra Advisory Services LLC acquired a new stake in Perpetua Resources in the 4th quarter worth about $40,000. Aventura Private Wealth LLC acquired a new stake in Perpetua Resources in the 4th quarter worth about $48,000. Finally, Jones Financial Companies Lllp boosted its stake in Perpetua Resources by 50.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,751 shares of the company’s stock worth $58,000 after buying an additional 925 shares during the last quarter. 70.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PPTA has been the topic of a number of research analyst reports. HC Wainwright raised their price target on Perpetua Resources from $41.00 to $43.50 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a research note on Tuesday, April 21st. B. Riley Financial raised their price target on Perpetua Resources from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Finally, Zacks Research raised Perpetua Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Perpetua Resources presently has a consensus rating of “Moderate Buy” and an average target price of $35.42.

Perpetua Resources Price Performance

NASDAQ PPTA opened at $24.90 on Thursday. The firm has a market capitalization of $3.11 billion and a P/E ratio of -18.86. Perpetua Resources Corp. has a 1-year low of $11.68 and a 1-year high of $37.37. The business’s 50-day simple moving average is $27.79 and its 200-day simple moving average is $28.63.

Perpetua Resources (NASDAQ:PPTA) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.21). On average, equities research analysts expect that Perpetua Resources Corp. will post -1.42 EPS for the current fiscal year.

Insider Activity

In other news, insider Mckinsey Margaret Lyon sold 8,699 shares of Perpetua Resources stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $29.53, for a total value of $256,881.47. Following the transaction, the insider directly owned 142,329 shares of the company’s stock, valued at $4,202,975.37. The trade was a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jonathan Cherry sold 4,079 shares of Perpetua Resources stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $29.31, for a total value of $119,555.49. Following the completion of the transaction, the insider directly owned 44,895 shares in the company, valued at $1,315,872.45. This represents a 8.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.57% of the company’s stock.

Perpetua Resources Profile

Perpetua Resources Inc (NASDAQ: PPTA), formerly known as eCobalt Solutions Inc, is a mineral exploration and development company focused on critical metals that support the global clean-energy transition. The company’s primary objective is to advance its flagship Idaho Cobalt Project, a permitted underground mine located near Stibnite, Idaho. This project is designed to produce cobalt, copper, gold and silver, with an emphasis on providing responsibly sourced materials to North American battery and technology markets.

In addition to its Idaho Cobalt Project, Perpetua Resources holds exploration licenses and mineral tenures across the United States and Canada.