Perpetua Resources (NASDAQ:PPTA) Hits New 52-Week High – What’s Next?

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) hit a new 52-week high during trading on Tuesday . The company traded as high as $16.26 and last traded at $16.14, with a volume of 573433 shares traded. The stock had previously closed at $14.98.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PPTA. National Bankshares restated an “outperform” rating on shares of Perpetua Resources in a research note on Wednesday, April 2nd. HC Wainwright dropped their target price on shares of Perpetua Resources from $28.00 to $27.50 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Finally, National Bank Financial upgraded shares of Perpetua Resources to a “strong-buy” rating in a research note on Friday, March 21st.

Perpetua Resources Stock Down 1.6%

The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -77.45 and a beta of 0.02. The company’s 50 day simple moving average is $13.08 and its two-hundred day simple moving average is $11.60.

Perpetua Resources (NASDAQ:PPTA) last announced its earnings results on Friday, May 9th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.07). Analysts anticipate that Perpetua Resources Corp. will post -0.21 EPS for the current year.

Insider Buying and Selling at Perpetua Resources

In other Perpetua Resources news, insider Mckinsey Margaret Lyon sold 20,000 shares of the firm’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $11.00, for a total value 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. This trade represents a 18.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael Stephen Wright sold 6,500 shares of the firm’s stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $13.85, for a total transaction of $90,025.00. Following the completion of the transaction, the insider now directly owns 14,195 shares of the company’s stock, valued at approximately $196,600.75. This represents a 31.41% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can raised its holdings in shares of Perpetua Resources by 1.6% in the fourth quarter. Bank of Montreal Can now owns 67,594 shares of the company’s stock worth $721,000 after buying an additional 1,054 shares during the last quarter. Corebridge Financial Inc. raised its holdings in shares of Perpetua Resources by 7.8% during the first quarter. Corebridge Financial Inc. now owns 20,644 shares of the company’s stock worth $221,000 after purchasing an additional 1,498 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Perpetua Resources by 12.6% during the first quarter. AQR Capital Management LLC now owns 15,909 shares of the company’s stock worth $170,000 after purchasing an additional 1,780 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Perpetua Resources by 1.7% during the first quarter. Goldman Sachs Group Inc. now owns 108,921 shares of the company’s stock worth $1,164,000 after purchasing an additional 1,835 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Perpetua Resources by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,958 shares of the company’s stock worth $672,000 after purchasing an additional 2,680 shares during the last quarter. Hedge funds and other institutional investors own 70.07% of the company’s stock.

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.