Perpetua Resources Corp. $PPTA Shares Sold by Empyrean Capital Partners LP

Empyrean Capital Partners LP lessened its stake in shares of Perpetua Resources Corp. (NASDAQ:PPTA) by 32.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,028,853 shares of the company’s stock after selling 489,100 shares during the quarter. Empyrean Capital Partners LP owned 0.83% of Perpetua Resources worth $24,909,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PPTA. Smartleaf Asset Management LLC acquired a new position in shares of Perpetua Resources during the fourth quarter worth about $31,000. UMB Bank n.a. acquired a new position in shares of Perpetua Resources during the fourth quarter worth about $36,000. Kestra Advisory Services LLC acquired a new position in shares of Perpetua Resources during the fourth quarter worth about $40,000. Aventura Private Wealth LLC acquired a new position in shares of Perpetua Resources during the fourth quarter worth about $48,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of 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 purchasing an additional 925 shares in the last quarter. Institutional investors and hedge funds own 70.07% of the company’s stock.

Perpetua Resources Stock Performance

NASDAQ:PPTA opened at $24.90 on Thursday. Perpetua Resources Corp. has a one year low of $11.68 and a one year high of $37.37. The business’s 50-day simple moving average is $27.79 and its 200 day simple moving average is $28.63. The stock has a market cap of $3.11 billion and a price-to-earnings ratio of -18.86.

Perpetua Resources (NASDAQ:PPTA) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.21). On average, equities research analysts predict that Perpetua Resources Corp. will post -1.42 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PPTA shares. HC Wainwright boosted their price target on Perpetua Resources from $41.00 to $43.50 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a research note on Tuesday, April 21st. Zacks Research upgraded Perpetua Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Finally, B. Riley Financial boosted their price target on Perpetua Resources from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $35.42.

Insider Activity

In related news, insider Mckinsey Margaret Lyon sold 8,699 shares of the business’s stock in a transaction dated 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 sale, the insider directly owned 142,329 shares of the company’s stock, valued at $4,202,975.37. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan Cherry sold 4,079 shares of the business’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $29.31, for a total value of $119,555.49. Following the completion of the sale, the insider directly owned 44,895 shares of the company’s stock, valued at approximately $1,315,872.45. This represents a 8.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.57% of the stock is owned by insiders.

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.