Jonathan Cherry Sells 14,911 Shares of Perpetua Resources (NASDAQ:PPTA) Stock

Perpetua Resources Corp. (NASDAQ:PPTA) insider Jonathan Cherry sold 14,911 shares of the firm’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $23.72, for a total value of $353,688.92. Following the transaction, the insider owned 36,249 shares of the company’s stock, valued at approximately $859,826.28. This represents a 29.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Perpetua Resources Trading Up 8.0%

PPTA stock opened at $23.58 on Tuesday. The business’s fifty day moving average price is $18.07 and its 200 day moving average price is $15.11. Perpetua Resources Corp. has a 12-month low of $7.81 and a 12-month high of $24.13. The company has a market capitalization of $2.54 billion, a PE ratio of -76.06 and a beta of 0.01.

Perpetua Resources (NASDAQ:PPTA) last announced its earnings results on Wednesday, August 13th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.06. Research analysts predict that Perpetua Resources Corp. will post -0.21 EPS for the current fiscal year.

Analyst Ratings Changes

PPTA has been the topic of several recent research reports. Wall Street Zen raised shares of Perpetua Resources from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. National Bankshares reaffirmed an “outperform” rating on shares of Perpetua Resources in a research report on Wednesday, June 18th. Roth Capital reiterated a “buy” rating on shares of Perpetua Resources in a research note on Monday, September 22nd. Royal Bank Of Canada initiated coverage on Perpetua Resources in a research note on Friday, July 18th. They set an “outperform” rating and a $23.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Perpetua Resources in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.25.

Hedge Funds Weigh In On Perpetua Resources

Hedge funds have recently added to or reduced their stakes in the stock. Paulson & CO. Inc. raised its holdings in Perpetua Resources by 30.6% during the second quarter. Paulson & CO. Inc. now owns 32,347,299 shares of the company’s stock worth $392,696,000 after purchasing an additional 7,575,757 shares in the last quarter. Encompass Capital Advisors LLC grew its position in shares of Perpetua Resources by 145.0% in the 2nd quarter. Encompass Capital Advisors LLC now owns 3,608,369 shares of the company’s stock valued at $43,806,000 after buying an additional 2,135,478 shares during the last quarter. Sprott Inc. raised its stake in Perpetua Resources by 15.5% during the 1st quarter. Sprott Inc. now owns 3,395,395 shares of the company’s stock worth $36,297,000 after acquiring an additional 456,524 shares in the last quarter. Millennium Management LLC lifted its position in Perpetua Resources by 219.0% in the first quarter. Millennium Management LLC now owns 1,181,899 shares of the company’s stock valued at $12,634,000 after acquiring an additional 811,363 shares during the last quarter. Finally, Monaco Asset Management SAM purchased a new stake in shares of Perpetua Resources in the 2nd quarter valued at about $12,662,000. 70.07% of the stock is currently owned by hedge funds and other institutional investors.

Perpetua Resources Company 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.