Perpetua Resources (NASDAQ:PPTA) Sets New 52-Week High – Here’s What Happened

Perpetua Resources Corp. (NASDAQ:PPTA) shares hit a new 52-week high on Tuesday . The stock traded as high as $32.20 and last traded at $31.3370, with a volume of 555119 shares traded. The stock had previously closed at $31.05.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PPTA. B. Riley reissued a “buy” rating on shares of Perpetua Resources in a research note on Thursday, October 30th. UBS Group set a $30.00 price objective on Perpetua Resources in a research report on Thursday, October 9th. Zacks Research upgraded shares of Perpetua Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Perpetua Resources in a report on Tuesday, September 23rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $30.67.

Perpetua Resources Trading Up 0.9%

The company has a market cap of $3.88 billion, a PE ratio of -62.80 and a beta of 0.03. The firm’s 50-day simple moving average is $25.23 and its two-hundred day simple moving average is $21.02.

Perpetua Resources (NASDAQ:PPTA) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.23). As a group, analysts predict that Perpetua Resources Corp. will post -0.21 EPS for the current year.

Insider Transactions at Perpetua Resources

In other news, Director Robert Alan Dean sold 2,400 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $27.14, for a total value of $65,136.00. Following the sale, the director directly owned 22,302 shares of the company’s stock, valued at $605,276.28. This represents a 9.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey L. Malmen sold 5,000 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $26.57, for a total transaction of $132,850.00. Following the completion of the sale, the director owned 14,319 shares in the company, valued at $380,455.83. The trade was a 25.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 78,017 shares of company stock worth $2,084,188 in the last 90 days. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Perpetua Resources

Several hedge funds have recently added to or reduced their stakes in PPTA. Lowe Wealth Advisors LLC purchased a new stake in shares of Perpetua Resources in the second quarter worth about $26,000. Steward Partners Investment Advisory LLC purchased a new stake in Perpetua Resources in the 2nd quarter worth approximately $31,000. Private Trust Co. NA purchased a new stake in Perpetua Resources in the 3rd quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Perpetua Resources during the 2nd quarter valued at approximately $39,000. Finally, Aventura Private Wealth LLC acquired a new position in shares of Perpetua Resources in the 4th quarter valued at $48,000. 70.07% of the stock is owned by hedge funds and other institutional investors.

About Perpetua Resources

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.