Pekin Hardy Strauss Inc. Acquires 59,889 Shares of Perpetua Resources Corp. $PPTA

Pekin Hardy Strauss Inc. lifted its stake in Perpetua Resources Corp. (NASDAQ:PPTA) by 44.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 195,889 shares of the company’s stock after acquiring an additional 59,889 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Perpetua Resources were worth $3,963,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Private Trust Co. NA acquired a new stake in Perpetua Resources during the 3rd quarter worth about $35,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Perpetua Resources in the second quarter worth about $31,000. Farther Finance Advisors LLC acquired a new stake in Perpetua Resources during the third quarter worth about $52,000. Jones Financial Companies Lllp grew its holdings in Perpetua Resources by 50.7% during the third quarter. Jones Financial Companies Lllp now owns 2,751 shares of the company’s stock worth $58,000 after acquiring an additional 925 shares during the period. Finally, Harbor Investment Advisory LLC raised its position in Perpetua Resources by 519.6% during the third quarter. Harbor Investment Advisory LLC now owns 3,098 shares of the company’s stock valued at $63,000 after acquiring an additional 2,598 shares in the last quarter. 70.07% of the stock is currently owned by hedge funds and other institutional investors.

Perpetua Resources Price Performance

Shares of NASDAQ:PPTA opened at $30.15 on Friday. Perpetua Resources Corp. has a 1 year low of $7.81 and a 1 year high of $35.97. The firm has a market capitalization of $3.76 billion, a PE ratio of -60.30 and a beta of 0.03. The business’s 50 day moving average price is $28.97 and its 200-day moving average price is $24.03.

Wall Street Analysts Forecast Growth

Several research firms have commented on PPTA. B. Riley Financial restated a “buy” rating on shares of Perpetua Resources in a research report on Thursday, October 30th. HC Wainwright increased their price target on shares of Perpetua Resources from $30.00 to $41.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Perpetua Resources in a research report on Thursday, January 22nd. Finally, BMO Capital Markets set a $44.00 price objective on shares of Perpetua Resources in a report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.50.

Insider Buying and Selling at Perpetua Resources

In other news, insider Mckinsey Margaret Lyon sold 43,722 shares of the company’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $27.57, for a total transaction of $1,205,415.54. Following the completion of the sale, the insider owned 132,110 shares of the company’s stock, valued at $3,642,272.70. This represents a 24.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexander Mcleod Sternhell sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $29.09, for a total value of $87,270.00. Following the completion of the sale, the director owned 16,352 shares of the company’s stock, valued at $475,679.68. This trade represents a 15.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 121,739 shares of company stock worth $3,289,604. Company insiders own 1.50% 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.