The Manufacturers Life Insurance Company Makes New Investment in Perpetua Resources Corp. $PPTA

The Manufacturers Life Insurance Company purchased a new position in shares of Perpetua Resources Corp. (NASDAQ:PPTA) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 140,848 shares of the company’s stock, valued at approximately $2,921,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Smartleaf Asset Management LLC acquired a new stake in shares of Perpetua Resources in the fourth quarter valued at approximately $31,000. UMB Bank n.a. acquired a new position in Perpetua Resources during the fourth quarter worth $36,000. Kestra Advisory Services LLC bought a new position in Perpetua Resources in the fourth quarter valued at $40,000. Pilgrim Partners Asia Pte Ltd grew its position in Perpetua Resources by 225.0% in 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 in the last quarter. Finally, Osterweis Capital Management Inc. acquired a new stake in Perpetua Resources in the 4th quarter valued at $63,000. 70.07% of the stock is currently owned by institutional investors and hedge funds.

Perpetua Resources Trading Down 5.8%

Shares of PPTA opened at $23.50 on Wednesday. The company’s fifty day simple moving average is $21.55 and its 200 day simple moving average is $26.08. Perpetua Resources Corp. has a 1-year low of $16.43 and a 1-year high of $37.37. The company has a market cap of $2.94 billion, a price-to-earnings ratio of -11.63 and a beta of 0.15.

Perpetua Resources (NASDAQ:PPTA) last announced 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. As a group, research analysts forecast that Perpetua Resources Corp. will post -2.16 earnings per share for the current year.

Analysts Set New Price Targets

PPTA has been the topic of several analyst reports. Scotiabank started coverage on shares of Perpetua Resources in a research report on Tuesday. They set a “sector outperform” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Perpetua Resources in a report on Friday, July 17th. B. Riley Financial initiated coverage on Perpetua Resources in a research report on Monday, August 3rd. They issued a “buy” rating and a $30.00 target price on the stock. Zacks Research upgraded Perpetua Resources from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Finally, HC Wainwright reissued a “buy” rating and set a $43.50 price target on shares of Perpetua Resources in a research report on Tuesday, August 18th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.90.

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.