Perpetua Resources (NASDAQ:PPTA) Shares Gap Up – Should You Buy?

Perpetua Resources Corp. (NASDAQ:PPTA) gapped up before the market opened on Wednesday . The stock had previously closed at $13.26, but opened at $13.70. Perpetua Resources shares last traded at $13.33, with a volume of 142,858 shares traded.

Wall Street Analyst Weigh In

PPTA has been the subject of a number of research analyst reports. Roth Mkm lifted their price target on Perpetua Resources from $15.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. HC Wainwright raised their price target on Perpetua Resources from $25.00 to $28.00 and gave the company a “buy” rating in a report on Friday, March 21st. National Bank Financial raised shares of Perpetua Resources to a “strong-buy” rating in a research note on Friday, March 21st. Finally, National Bankshares restated an “outperform” rating on shares of Perpetua Resources in a report on Wednesday, April 2nd.

Perpetua Resources Stock Performance

The firm’s 50-day moving average is $10.24 and its 200 day moving average is $10.58. The firm has a market capitalization of $928.51 million, a P/E ratio of -59.77 and a beta of 0.12.

Perpetua Resources (NASDAQ:PPTA) last released its quarterly earnings results on Wednesday, March 19th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. As a group, research analysts expect that Perpetua Resources Corp. will post -0.21 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Andrew Phillip Cole bought 9,450 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was acquired at an average cost of $7.99 per share, for a total transaction of $75,505.50. Following the purchase, the director now owns 9,450 shares of the company’s stock, valued at approximately $75,505.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Alan Douglas Haslam sold 10,400 shares of Perpetua Resources stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $9.24, for a total value of $96,096.00. Following the transaction, the insider now owns 65,763 shares of the company’s stock, valued at $607,650.12. This represents a 13.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have bought 20,230 shares of company stock worth $166,582 and have sold 53,110 shares worth $516,398. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Perpetua Resources

Institutional investors and hedge funds have recently made changes to their positions in the company. Ancora Advisors LLC bought a new stake in Perpetua Resources in the 4th quarter valued at $37,000. GAMMA Investing LLC lifted its holdings in shares of Perpetua Resources by 1,658.4% during the first quarter. GAMMA Investing LLC now owns 4,308 shares of the company’s stock worth $46,000 after buying an additional 4,063 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Perpetua Resources in the fourth quarter valued at about $55,000. ProShare Advisors LLC acquired a new position in shares of Perpetua Resources in the fourth quarter valued at about $116,000. Finally, ExodusPoint Capital Management LP acquired a new position in shares of Perpetua Resources in the fourth quarter valued at about $140,000. Institutional investors and hedge funds 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.