50,000 Shares in Perpetua Resources Corp. $PPTA Bought by Medici Capital LLC

Medici Capital LLC bought a new position in Perpetua Resources Corp. (NASDAQ:PPTA) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 50,000 shares of the company’s stock, valued at approximately $607,000. Perpetua Resources makes up 0.6% of Medici Capital LLC’s holdings, making the stock its 17th largest position.

Several other large investors have also made changes to their positions in PPTA. GAMMA Investing LLC raised its position in shares of Perpetua Resources by 1,658.4% in the 1st quarter. GAMMA Investing LLC now owns 4,308 shares of the company’s stock worth $46,000 after buying an additional 4,063 shares during the period. North Capital Inc. purchased a new position in Perpetua Resources in the first quarter valued at about $53,000. BNP Paribas Financial Markets purchased a new position in Perpetua Resources in the fourth quarter valued at about $55,000. Quantbot Technologies LP purchased a new position in Perpetua Resources in the first quarter valued at about $76,000. Finally, Continuum Advisory LLC raised its position in Perpetua Resources by 72.9% in the first quarter. Continuum Advisory LLC now owns 8,300 shares of the company’s stock valued at $89,000 after purchasing an additional 3,500 shares during the period. 70.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on PPTA. National Bankshares reissued an “outperform” rating on shares of Perpetua Resources in a research report on Wednesday, June 18th. B. Riley raised their price objective on Perpetua Resources from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday. HC Wainwright raised their price objective on Perpetua Resources from $27.50 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Finally, Royal Bank Of Canada initiated coverage on Perpetua Resources in a research report on Friday, July 18th. They issued an “outperform” rating and a $23.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $23.75.

Perpetua Resources Stock Performance

NASDAQ:PPTA opened at $17.32 on Friday. The company has a market capitalization of $1.86 billion and a price-to-earnings ratio of -55.87. Perpetua Resources Corp. has a one year low of $7.81 and a one year high of $19.75. The stock has a 50-day simple moving average of $16.76 and a 200 day simple moving average of $13.96.

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

Insider Buying and Selling

In related news, major shareholder Paulson & Co. Inc. bought 7,575,757 shares of the firm’s stock in a transaction on Monday, June 16th. The stock was bought at an average cost of $13.20 per share, for a total transaction of $99,999,992.40. Following the completion of the purchase, the insider directly owned 32,347,299 shares in the company, valued at approximately $426,984,346.80. The trade was a 30.58% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Stephen Wright sold 10,000 shares of Perpetua Resources stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $18.31, for a total value of $183,100.00. Following the sale, the insider directly owned 14,195 shares in the company, valued at approximately $259,910.45. This trade represents a 41.33% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

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.