Perpetua Resources (NASDAQ:PPTA) Shares Gap Up – What’s Next?

Perpetua Resources Corp. (NASDAQ:PPTA)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $9.03, but opened at $10.01. Perpetua Resources shares last traded at $10.19, with a volume of 448,608 shares changing hands.

Wall Street Analyst Weigh In

PPTA has been the topic of a number of research reports. National Bank Financial began coverage on shares of Perpetua Resources in a report on Friday, September 6th. They set an “outperform” rating on the stock. Roth Mkm increased their price objective on Perpetua Resources from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, HC Wainwright lifted their target price on Perpetua Resources from $13.25 to $22.00 and gave the stock a “buy” rating in a report on Friday, November 15th.

Perpetua Resources Stock Up 7.5 %

The firm has a market cap of $647.95 million, a P/E ratio of -46.32 and a beta of 0.23. The business’s 50 day moving average is $9.61 and its two-hundred day moving average is $7.86.

Insider Activity

In other news, insider Alan Douglas Haslam sold 40,000 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $10.07, for a total transaction of $402,800.00. Following the transaction, the insider now owns 65,571 shares of the company’s stock, valued at $660,299.97. This represents a 37.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Perpetua Resources

Hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC increased its stake in Perpetua Resources by 43.6% during the 3rd quarter. Virtu Financial LLC now owns 34,478 shares of the company’s stock valued at $322,000 after purchasing an additional 10,463 shares in the last quarter. Barclays PLC grew its holdings in shares of Perpetua Resources by 63.4% during the third quarter. Barclays PLC now owns 74,119 shares of the company’s stock valued at $694,000 after buying an additional 28,746 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Perpetua Resources by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 484,829 shares of the company’s stock worth $4,533,000 after acquiring an additional 2,252 shares during the last quarter. Continuum Advisory LLC lifted its position in Perpetua Resources by 500.0% in the 3rd quarter. Continuum Advisory LLC now owns 4,800 shares of the company’s stock valued at $44,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in Perpetua Resources by 4.3% during the 3rd quarter. Jane Street Group LLC now owns 63,527 shares of the company’s stock valued at $597,000 after purchasing an additional 2,605 shares during the last quarter. Institutional investors own 70.07% of the company’s stock.

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.