Perpetua Resources Corp. (NASDAQ:PPTA) Short Interest Down 13.5% in January

Perpetua Resources Corp. (NASDAQ:PPTA) saw a significant decline in short interest in the month of January. As of January 15th, there was short interest totalling 1,980,000 shares, a decline of 13.5% from the December 31st total of 2,290,000 shares. Currently, 2.8% of the shares of the company are short sold. Based on an average daily trading volume, of 671,500 shares, the days-to-cover ratio is presently 2.9 days.

Institutional Trading of Perpetua Resources

Several hedge funds have recently modified their holdings of the company. Continuum Advisory LLC increased its position in Perpetua Resources by 500.0% in the third quarter. Continuum Advisory LLC now owns 4,800 shares of the company’s stock worth $44,000 after purchasing an additional 4,000 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Perpetua Resources in the 3rd quarter valued at about $98,000. Quantbot Technologies LP purchased a new position in Perpetua Resources in the third quarter worth about $123,000. American Century Companies Inc. purchased a new stake in Perpetua Resources during the second quarter valued at approximately $124,000. Finally, SG Americas Securities LLC bought a new stake in shares of Perpetua Resources in the 3rd quarter valued at approximately $125,000. 70.07% of the stock is owned by hedge funds and other institutional investors.

Perpetua Resources Trading Down 0.2 %

PPTA traded down $0.02 during trading on Monday, hitting $11.78. 717,555 shares of the company traded hands, compared to its average volume of 806,517. The company has a market cap of $827.78 million, a PE ratio of -53.55 and a beta of 0.20. Perpetua Resources has a 1 year low of $2.69 and a 1 year high of $13.23. The stock’s 50-day simple moving average is $11.45 and its two-hundred day simple moving average is $9.61.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PPTA shares. HC Wainwright lifted their price target on shares of Perpetua Resources from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Roth Mkm raised their price objective on Perpetua Resources from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th.

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.