Capital World Investors Takes $19.64 Million Position in Perpetua Resources Corp. $PPTA

Capital World Investors bought a new stake in Perpetua Resources Corp. (NASDAQ:PPTA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 811,177 shares of the company’s stock, valued at approximately $19,639,000.

A number of other large investors also recently made changes to their positions in PPTA. Aventura Private Wealth LLC acquired a new position in shares of Perpetua Resources in the 4th quarter valued at about $48,000. Jones Financial Companies Lllp increased its holdings in shares of Perpetua Resources by 50.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,751 shares of the company’s stock valued at $58,000 after purchasing an additional 925 shares during the period. Pilgrim Partners Asia Pte Ltd increased its holdings in shares of Perpetua Resources by 225.0% in the 4th 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 during the period. Private Trust Co. NA increased its holdings in shares of Perpetua Resources by 71.4% in the 4th quarter. Private Trust Co. NA now owns 3,000 shares of the company’s stock valued at $73,000 after purchasing an additional 1,250 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Perpetua Resources in the 3rd quarter valued at about $74,000. Institutional investors and hedge funds own 70.07% of the company’s stock.

Insider Buying and Selling

In related news, insider Jonathan Cherry sold 4,079 shares of the stock in a transaction that occurred 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 approximately $1,315,872.45. This represents a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mckinsey Margaret Lyon sold 8,699 shares of the stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $29.53, for a total value of $256,881.47. Following the completion of the transaction, the insider owned 142,329 shares in the company, valued at $4,202,975.37. This represents a 5.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

PPTA has been the topic of a number of research reports. B. Riley Financial upped their target price on Perpetua Resources from $30.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, March 18th. Zacks Research downgraded Perpetua Resources from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 8th. HC Wainwright upped their target price on Perpetua Resources from $41.00 to $43.50 and gave the company a “buy” rating in a report on Tuesday, May 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a report on Tuesday, April 21st. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Perpetua Resources has an average rating of “Moderate Buy” and an average target price of $35.42.

Perpetua Resources Stock Performance

NASDAQ:PPTA opened at $22.66 on Wednesday. The stock’s 50 day moving average price is $28.30 and its 200 day moving average price is $28.60. Perpetua Resources Corp. has a 52 week low of $11.68 and a 52 week high of $37.37. The company has a market capitalization of $2.83 billion and a P/E ratio of -17.17.

Perpetua Resources (NASDAQ:PPTA) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.21). As a group, sell-side analysts forecast that Perpetua Resources Corp. will post -1.42 earnings per share for the current fiscal year.

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.