Perpetua Resources Corp. $PPTA Shares Purchased by Soviero Asset Management LP

Soviero Asset Management LP boosted its position in shares of Perpetua Resources Corp. (NASDAQ:PPTA) by 40.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 240,000 shares of the company’s stock after acquiring an additional 68,720 shares during the quarter. Perpetua Resources accounts for approximately 1.8% of Soviero Asset Management LP’s investment portfolio, making the stock its 28th biggest position. Soviero Asset Management LP owned 0.22% of Perpetua Resources worth $2,914,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Lowe Wealth Advisors LLC acquired a new position in shares of Perpetua Resources in the second quarter valued at approximately $26,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Perpetua Resources during the second quarter worth $31,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Perpetua Resources in the second quarter valued at $39,000. Quantbot Technologies LP acquired a new position in Perpetua Resources during the 1st quarter worth $76,000. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in Perpetua Resources by 24.1% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 9,610 shares of the company’s stock worth $117,000 after purchasing an additional 1,868 shares during the period. Institutional investors and hedge funds own 70.07% of the company’s stock.

Insider Activity at Perpetua Resources

In related news, insider Jonathan Cherry sold 14,911 shares of the stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $23.72, for a total transaction of $353,688.92. Following the transaction, the insider directly owned 36,249 shares in the company, valued at approximately $859,826.28. This represents a 29.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Perpetua Resources Stock Performance

Shares of PPTA opened at $26.55 on Wednesday. The firm has a 50-day simple moving average of $24.03 and a 200-day simple moving average of $18.91. Perpetua Resources Corp. has a fifty-two week low of $7.81 and a fifty-two week high of $31.65. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of -53.10 and a beta of 0.02.

Perpetua Resources (NASDAQ:PPTA) last released its earnings results on Friday, November 14th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.23). Equities research analysts forecast that Perpetua Resources Corp. will post -0.21 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Roth Capital set a $32.00 price objective on Perpetua Resources and gave the company a “buy” rating in a research note on Wednesday, October 22nd. BMO Capital Markets set a $44.00 target price on shares of Perpetua Resources in a research note on Tuesday, October 28th. B. Riley reiterated a “buy” rating on shares of Perpetua Resources in a research note on Thursday, October 30th. Zacks Research raised shares of Perpetua Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Finally, Wall Street Zen lowered shares of Perpetua Resources from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $29.00.

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.