32,347,299 Shares in Perpetua Resources Corp. $PPTA Bought by Paulson & CO. Inc.

Paulson & CO. Inc. acquired a new stake in Perpetua Resources Corp. (NASDAQ:PPTA) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 32,347,299 shares of the company’s stock, valued at approximately $671,530,000. Perpetua Resources makes up about 26.1% of Paulson & CO. Inc.’s portfolio, making the stock its 2nd biggest holding. Paulson & CO. Inc. owned 0.26% of Perpetua Resources as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jupiter Topco LLC bought a new position in Perpetua Resources during the 2nd quarter worth about $814,000. Osterweis Capital Management Inc. acquired a new stake in shares of Perpetua Resources in the 2nd quarter valued at about $26,000. Legal & General Group Plc bought a new stake in shares of Perpetua Resources in the second quarter valued at about $1,532,000. The Manufacturers Life Insurance Company bought a new stake in shares of Perpetua Resources in the second quarter valued at about $2,921,000. Finally, Cibc World Market Inc. acquired a new position in shares of Perpetua Resources during the second quarter worth about $1,283,000. 70.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Perpetua Resources Trading Up 4.2%

Shares of PPTA stock opened at $27.02 on Wednesday. Perpetua Resources Corp. has a 1 year low of $16.43 and a 1 year high of $37.37. The firm’s fifty day moving average price is $21.43 and its two-hundred day moving average price is $26.21. The firm has a market capitalization of $3.38 billion, a P/E ratio of -13.38 and a beta of 0.09.

Perpetua Resources (NASDAQ:PPTA) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.59). During the same period in the previous year, the company earned $0.08 EPS. As a group, equities research analysts forecast that Perpetua Resources Corp. will post -2.16 EPS for the current fiscal year.

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