Insider Buying: Perpetua Resources Corp. (NASDAQ:PPTA) Major Shareholder Purchases 7,575,757 Shares of Stock

Perpetua Resources Corp. (NASDAQ:PPTA) major shareholder Paulson & Co. Inc. acquired 7,575,757 shares of Perpetua Resources stock in a transaction that occurred on Monday, June 16th. The shares were purchased at an average price of $13.20 per share, for a total transaction of $99,999,992.40. Following the transaction, the insider now directly owns 32,347,299 shares in the company, valued at $426,984,346.80. The trade was a 30.58% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Perpetua Resources Trading Up 1.2%

NASDAQ PPTA opened at $13.00 on Tuesday. The business’s 50-day moving average price is $13.93 and its two-hundred day moving average price is $11.95. Perpetua Resources Corp. has a 12 month low of $5.01 and a 12 month high of $17.96. The firm has a market capitalization of $930.06 million, a PE ratio of -59.09 and a beta of 0.02.

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

Institutional Investors Weigh In On Perpetua Resources

A number of institutional investors have recently made changes to their positions in PPTA. Encompass Capital Advisors LLC bought a new stake in shares of Perpetua Resources in the 1st quarter valued at about $15,745,000. Millennium Management LLC boosted its position in shares of Perpetua Resources by 219.0% during the 1st quarter. Millennium Management LLC now owns 1,181,899 shares of the company’s stock valued at $12,634,000 after purchasing an additional 811,363 shares in the last quarter. Amundi bought a new stake in shares of Perpetua Resources during the 4th quarter valued at about $7,788,000. Sprott Inc. boosted its position in shares of Perpetua Resources by 15.5% during the 1st quarter. Sprott Inc. now owns 3,395,395 shares of the company’s stock valued at $36,297,000 after purchasing an additional 456,524 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of Perpetua Resources during the 1st quarter valued at about $2,734,000. Institutional investors own 70.07% of the company’s stock.

Analysts Set New Price Targets

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

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.