Perpetua Resources (NASDAQ:PPTA) Trading Up 6.7% – Time to Buy?

Perpetua Resources Corp. (NASDAQ:PPTA)’s share price was up 6.7% during mid-day trading on Friday . The company traded as high as $25.90 and last traded at $25.54. Approximately 752,857 shares changed hands during trading, a decline of 61% from the average daily volume of 1,922,254 shares. The stock had previously closed at $23.94.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PPTA shares. Roth Capital restated a “buy” rating on shares of Perpetua Resources in a research note on Monday, September 22nd. UBS Group set a $30.00 price objective on Perpetua Resources in a research report on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Perpetua Resources in a research report on Wednesday. B. Riley lifted their price objective on Perpetua Resources from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Finally, Wall Street Zen raised Perpetua Resources from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Perpetua Resources presently has an average rating of “Moderate Buy” and an average target price of $25.40.

Perpetua Resources Stock Performance

The stock has a fifty day moving average of $18.81 and a 200 day moving average of $15.46. The company has a market capitalization of $2.77 billion, a PE ratio of -83.19 and a beta of 0.01.

Perpetua Resources (NASDAQ:PPTA) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06. As a group, equities analysts predict that Perpetua Resources Corp. will post -0.21 EPS for the current year.

Insider Buying and Selling

In other news, insider Jonathan Cherry sold 14,911 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $23.72, for a total transaction of $353,688.92. Following the sale, the insider directly owned 36,249 shares of the company’s stock, valued at $859,826.28. This represents a 29.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Stephen Wright sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $18.31, for a total value of $183,100.00. Following the sale, the insider directly owned 14,195 shares in the company, valued at $259,910.45. This trade represents a 41.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

Institutional Trading of Perpetua Resources

Hedge funds have recently modified their holdings of the company. Lowe Wealth Advisors LLC purchased a new stake in shares of Perpetua Resources during the 2nd quarter worth approximately $26,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Perpetua Resources during the 2nd quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Perpetua Resources during the 2nd quarter worth approximately $39,000. GAMMA Investing LLC raised its holdings 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 acquiring an additional 4,063 shares in the last quarter. Finally, North Capital Inc. purchased a new stake in shares of Perpetua Resources during the 1st quarter worth approximately $53,000. 70.07% of the stock is owned by hedge funds and other institutional investors.

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.