Lombard Odier Asset Management USA Corp Sells 51,717 Shares of Perpetua Resources Corp. $PPTA

Lombard Odier Asset Management USA Corp lowered its holdings in Perpetua Resources Corp. (NASDAQ:PPTA) by 57.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 37,533 shares of the company’s stock after selling 51,717 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in Perpetua Resources were worth $909,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of PPTA. Smartleaf Asset Management LLC bought a new stake in shares of Perpetua Resources in the fourth quarter valued at approximately $31,000. UMB Bank n.a. bought a new stake in shares of Perpetua Resources during the 4th quarter valued at $36,000. Kestra Advisory Services LLC bought a new stake in shares of Perpetua Resources during the 4th quarter valued at $40,000. Aventura Private Wealth LLC bought a new stake in shares of Perpetua Resources during the 4th quarter valued at $48,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Perpetua Resources by 50.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,751 shares of the company’s stock valued at $58,000 after purchasing an additional 925 shares during the period. Institutional investors own 70.07% of the company’s stock.

Wall Street Analyst Weigh In

PPTA has been the topic of a number of analyst reports. B. Riley Financial boosted their price objective on Perpetua Resources from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, March 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a research note on Tuesday, April 21st. Zacks Research upgraded Perpetua Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Finally, HC Wainwright upped their target price on shares of Perpetua Resources from $41.00 to $43.50 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.42.

Insider Transactions at Perpetua Resources

In other news, insider Mckinsey Margaret Lyon sold 8,699 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $29.53, for a total value of $256,881.47. Following the transaction, the insider owned 142,329 shares of the company’s stock, valued at $4,202,975.37. This represents a 5.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan Cherry sold 4,079 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $29.31, for a total transaction of $119,555.49. Following the completion of the transaction, the insider directly owned 44,895 shares in the company, valued at $1,315,872.45. The trade was a 8.33% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.57% of the stock is owned by corporate insiders.

Perpetua Resources Trading Down 0.9%

Perpetua Resources stock opened at $25.77 on Wednesday. The firm has a market capitalization of $3.22 billion and a PE ratio of -19.52. The firm’s 50 day simple moving average is $27.87 and its 200 day simple moving average is $28.63. Perpetua Resources Corp. has a 1-year low of $11.68 and a 1-year high of $37.37.

Perpetua Resources (NASDAQ:PPTA) last announced its earnings results on Monday, May 11th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.21). Research analysts forecast that Perpetua Resources Corp. will post -1.42 earnings per share for the current year.

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.