Perpetua Resources Corp. (NASDAQ:PPTA) Sees Significant Increase in Short Interest

Perpetua Resources Corp. (NASDAQ:PPTA) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totalling 4,380,000 shares, a growth of 30.4% from the March 15th total of 3,360,000 shares. Based on an average trading volume of 986,400 shares, the short-interest ratio is presently 4.4 days. Approximately 6.2% of the company’s stock are sold short.

Insider Transactions at Perpetua Resources

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 transaction of $96,096.00. Following the completion of the transaction, the insider now owns 65,763 shares of the company’s stock, valued at approximately $607,650.12. This trade represents a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew Phillip Cole purchased 9,450 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was bought at an average cost of $7.99 per share, for a total transaction of $75,505.50. Following the completion of the transaction, the director now owns 9,450 shares in the company, valued at approximately $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 bought 20,230 shares of company stock valued at $166,582 and sold 53,110 shares valued at $516,398. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Perpetua Resources

A number of institutional investors and hedge funds have recently modified their holdings of the company. Ancora Advisors LLC purchased a new position in Perpetua Resources in the fourth quarter worth about $37,000. GAMMA Investing LLC boosted its holdings in shares of Perpetua Resources by 1,658.4% in 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 during the last quarter. BNP Paribas Financial Markets bought a new stake in Perpetua Resources during the fourth quarter valued at approximately $55,000. ProShare Advisors LLC bought a new stake in Perpetua Resources during the fourth quarter valued at approximately $116,000. Finally, ExodusPoint Capital Management LP purchased a new stake in Perpetua Resources during the fourth quarter valued at approximately $140,000. 70.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. HC Wainwright increased their target price on Perpetua Resources from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, March 21st. National Bankshares reaffirmed an “outperform” rating on shares of Perpetua Resources in a report on Wednesday, April 2nd. National Bank Financial upgraded shares of Perpetua Resources to a “strong-buy” rating in a report on Friday, March 21st. Finally, Roth Mkm boosted their price objective on shares of Perpetua Resources from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th.

Perpetua Resources Stock Performance

PPTA opened at $13.15 on Monday. The company’s 50-day simple moving average is $10.27 and its two-hundred day simple moving average is $10.63. The stock has a market capitalization of $928.51 million, a P/E ratio of -59.77 and a beta of 0.12. Perpetua Resources has a 52-week low of $4.96 and a 52-week high of $13.97.

Perpetua Resources (NASDAQ:PPTA) last issued its quarterly earnings data on Wednesday, March 19th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. Research analysts forecast that Perpetua Resources will post -0.21 EPS for the current fiscal year.

Perpetua Resources Company Profile

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.