Perpetua Resources (NASDAQ:PPTA) Shares Gap Up – Here’s Why

Perpetua Resources Corp. (NASDAQ:PPTA) shares gapped up prior to trading on Tuesday . The stock had previously closed at $8.19, but opened at $8.50. Perpetua Resources shares last traded at $8.54, with a volume of 69,561 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. HC Wainwright increased their target price on shares of Perpetua Resources from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Roth Mkm boosted their price objective on Perpetua Resources from $15.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, January 7th.

Perpetua Resources Price Performance

The company has a market capitalization of $631.52 million, a price-to-earnings ratio of -40.70 and a beta of 0.27. The firm has a fifty day simple moving average of $10.80 and a 200 day simple moving average of $10.17.

Insider Buying and Selling

In other Perpetua Resources news, insider Alan Douglas Haslam sold 10,400 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $9.24, for a total value of $96,096.00. Following the transaction, the insider now directly owns 65,763 shares of the company’s stock, valued at $607,650.12. This trade represents a 13.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew Phillip Cole bought 9,450 shares of the company’s stock in a transaction on Monday, February 24th. The stock was bought at an average price of $7.99 per share, with a total value of $75,505.50. Following the completion of the acquisition, the director now owns 9,450 shares in the company, valued at $75,505.50. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 20,230 shares of company stock valued at $166,582. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Perpetua Resources

A number of hedge funds have recently modified their holdings of the business. Ancora Advisors LLC purchased a new position in shares of Perpetua Resources during the fourth quarter worth $37,000. Continuum Advisory LLC lifted its stake 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 acquiring an additional 4,000 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Perpetua Resources during the 4th quarter worth approximately $55,000. Intech Investment Management LLC acquired a new stake in shares of Perpetua Resources in the 3rd quarter valued at $98,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Perpetua Resources in the 4th quarter valued at $116,000. 70.07% of the stock is currently owned by hedge funds and other institutional investors.

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.