Pinnacle Wealth Management Group Inc. Invests $1.05 Million in Perpetua Resources Corp. $PPTA

Pinnacle Wealth Management Group Inc. purchased a new position in Perpetua Resources Corp. (NASDAQ:PPTA) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 43,310 shares of the company’s stock, valued at approximately $1,049,000.

Other large investors have also recently made changes to their positions in the company. Private Trust Co. NA bought a new position in shares of Perpetua Resources in the third quarter worth $35,000. Aventura Private Wealth LLC bought a new position in shares of Perpetua Resources in the fourth quarter worth $48,000. Farther Finance Advisors LLC bought a new position in shares of Perpetua Resources in the third quarter worth $52,000. Jones Financial Companies Lllp boosted its holdings in shares of Perpetua Resources by 50.7% in the third quarter. Jones Financial Companies Lllp now owns 2,751 shares of the company’s stock worth $58,000 after acquiring an additional 925 shares during the period. Finally, Harbor Investment Advisory LLC boosted its holdings in shares of Perpetua Resources by 519.6% in the third quarter. Harbor Investment Advisory LLC now owns 3,098 shares of the company’s stock worth $63,000 after acquiring an additional 2,598 shares during the period. 70.07% of the stock is owned by institutional investors.

Perpetua Resources Stock Performance

Shares of PPTA stock opened at $30.71 on Tuesday. Perpetua Resources Corp. has a 52-week low of $11.22 and a 52-week high of $37.37. The company has a market capitalization of $3.83 billion, a PE ratio of -29.25 and a beta of 0.15. The business’s fifty day moving average is $29.86 and its 200 day moving average is $27.36.

Perpetua Resources (NASDAQ:PPTA) last issued its quarterly earnings data on Tuesday, March 31st. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.60). On average, sell-side analysts forecast that Perpetua Resources Corp. will post -0.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other Perpetua Resources news, insider Mckinsey Margaret Lyon sold 8,699 shares of Perpetua Resources stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $29.53, for a total transaction of $256,881.47. Following the completion of the sale, the insider owned 142,329 shares of the company’s stock, valued at $4,202,975.37. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan Cherry sold 4,079 shares of Perpetua Resources stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $29.31, for a total value of $119,555.49. Following the sale, the insider directly owned 44,895 shares of the company’s stock, valued at approximately $1,315,872.45. This trade represents a 8.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 56,500 shares of company stock worth $1,581,853 in the last quarter. 1.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $41.00 price target on shares of Perpetua Resources in a report on Wednesday, April 8th. Zacks Research downgraded Perpetua Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 8th. B. Riley Financial increased their price objective on Perpetua Resources from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a research report on Thursday, January 22nd. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.00.

Perpetua Resources Profile

Perpetua Resources Inc (NASDAQ: PPTA), formerly known as eCobalt Solutions Inc, is a mineral exploration and development company focused on critical metals that support the global clean-energy transition. The company’s primary objective is to advance its flagship Idaho Cobalt Project, a permitted underground mine located near Stibnite, Idaho. This project is designed to produce cobalt, copper, gold and silver, with an emphasis on providing responsibly sourced materials to North American battery and technology markets.

In addition to its Idaho Cobalt Project, Perpetua Resources holds exploration licenses and mineral tenures across the United States and Canada.