Perpetua Resources (NASDAQ:PPTA) Insider Sells $119,555.49 in Stock

Perpetua Resources Corp. (NASDAQ:PPTA) insider Jonathan Cherry sold 4,079 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $29.31, for a total value of $119,555.49. Following the transaction, the insider owned 44,895 shares in the company, valued at $1,315,872.45. The trade was a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Perpetua Resources Stock Performance

NASDAQ PPTA traded down $0.09 on Thursday, reaching $29.43. 1,657,426 shares of the stock traded hands, compared to its average volume of 1,719,536. Perpetua Resources Corp. has a 12 month low of $8.84 and a 12 month high of $37.37. The company has a market cap of $3.67 billion, a price-to-earnings ratio of -28.03 and a beta of 0.15. The company has a fifty day moving average price of $30.15 and a 200-day moving average price of $26.66.

Perpetua Resources (NASDAQ:PPTA) last posted its quarterly earnings results on Tuesday, March 31st. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.60). As a group, research analysts anticipate that Perpetua Resources Corp. will post -0.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Perpetua Resources

A number of hedge funds have recently made changes to their positions in the stock. Purpose Unlimited Inc. bought a new stake in Perpetua Resources during the fourth quarter valued at about $1,798,000. Caitong International Asset Management Co. Ltd raised its holdings in Perpetua Resources by 318.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 13,930 shares of the company’s stock worth $337,000 after purchasing an additional 10,601 shares in the last quarter. Invesco Ltd. raised its holdings in Perpetua Resources by 3.6% in the fourth quarter. Invesco Ltd. now owns 49,849 shares of the company’s stock worth $1,207,000 after purchasing an additional 1,755 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Perpetua Resources by 59.3% during the fourth quarter. NewEdge Advisors LLC now owns 84,280 shares of the company’s stock valued at $2,040,000 after buying an additional 31,375 shares during the last quarter. Finally, Yaupon Capital Management LP purchased a new stake in shares of Perpetua Resources during the fourth quarter valued at about $4,612,000. 70.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on PPTA shares. B. Riley Financial raised their target price on shares of Perpetua Resources from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, March 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Perpetua Resources in a research report on Thursday, January 22nd. Finally, HC Wainwright increased their price objective on shares of Perpetua Resources from $30.00 to $41.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Perpetua Resources currently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Perpetua Resources Company 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.