Perpetua Resources (NASDAQ:PPTA) Trading Up 7.4% – What’s Next?

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) were up 7.4% on Monday . The stock traded as high as $14.94 and last traded at $14.94. Approximately 308,030 shares traded hands during trading, a decline of 55% from the average daily volume of 688,692 shares. The stock had previously closed at $13.91.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. National Bankshares restated an “outperform” rating on shares of Perpetua Resources in a report on Wednesday, April 2nd. HC Wainwright reduced their price objective on shares of Perpetua Resources from $28.00 to $27.50 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Finally, National Bank Financial upgraded shares of Perpetua Resources to a “strong-buy” rating in a report on Friday, March 21st.

Perpetua Resources Trading Up 6.5%

The stock has a market capitalization of $1.06 billion, a PE ratio of -67.51 and a beta of 0.06. The firm’s fifty day moving average is $12.75 and its 200-day moving average is $11.49.

Perpetua Resources (NASDAQ:PPTA) last issued its quarterly earnings results on Friday, May 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.07). As a group, equities analysts predict that Perpetua Resources Corp. will post -0.21 EPS for the current year.

Insiders Place Their Bets

In other news, insider Michael Stephen Wright sold 6,500 shares of the company’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $13.85, for a total value of $90,025.00. Following the completion of the transaction, the insider now owns 14,195 shares in the company, valued at approximately $196,600.75. This represents a 31.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mckinsey Margaret Lyon sold 20,000 shares of the company’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $11.00, for a total transaction of $220,000.00. Following the completion of the transaction, the insider now owns 89,154 shares of the company’s stock, valued at approximately $980,694. The trade was a 18.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,210 shares of company stock worth $510,327 over the last three months. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Perpetua Resources

A number of large investors have recently bought and sold shares of PPTA. Ancora Advisors LLC purchased a new position in shares of Perpetua Resources in the 4th quarter valued at about $37,000. GAMMA Investing LLC boosted its stake in shares of Perpetua Resources by 1,658.4% during the 1st quarter. GAMMA Investing LLC now owns 4,308 shares of the company’s stock worth $46,000 after purchasing an additional 4,063 shares during the last quarter. North Capital Inc. acquired a new stake in shares of Perpetua Resources during the 1st quarter worth about $53,000. BNP Paribas Financial Markets acquired a new stake in shares of Perpetua Resources during the 4th quarter worth about $55,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Perpetua Resources in the first quarter worth approximately $76,000. Hedge funds and other institutional investors own 70.07% of the company’s stock.

About Perpetua Resources

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.