Perpetua Resources (NASDAQ:PPTA) Trading 8.8% Higher – Here’s What Happened

Perpetua Resources Corp. (NASDAQ:PPTA) shot up 8.8% during trading on Monday . The stock traded as high as $10.76 and last traded at $10.71. 243,870 shares changed hands during trading, a decline of 49% from the average session volume of 479,809 shares. The stock had previously closed at $9.84.

Wall Street Analysts Forecast Growth

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

Perpetua Resources Stock Performance

The firm has a market cap of $757.57 million, a P/E ratio of -48.95 and a beta of 0.27. The firm’s fifty day moving average is $10.61 and its 200 day moving average is $10.22.

Insider Transactions at Perpetua Resources

In other news, Director Robert Alan Dean purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was acquired at an average cost of $8.32 per share, with a total value of $41,600.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $83,200. This trade represents a 100.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richie Darrin Haddock acquired 5,780 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was purchased at an average cost of $8.56 per share, for a total transaction of $49,476.80. Following the completion of the acquisition, the director now owns 5,780 shares in the company, valued at approximately $49,476.80. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 20,230 shares of company stock worth $166,582 over the last quarter. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Perpetua Resources

Large investors have recently added to or reduced their stakes in the stock. Ancora Advisors LLC bought a new position in shares of Perpetua Resources in the fourth quarter worth $37,000. Continuum Advisory LLC increased its holdings 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 buying an additional 4,000 shares during the period. BNP Paribas Financial Markets bought a new position in Perpetua Resources in the 4th quarter valued at about $55,000. Intech Investment Management LLC acquired a new position in shares of Perpetua Resources in the 3rd quarter valued at approximately $98,000. Finally, ProShare Advisors LLC bought a new stake in shares of Perpetua Resources during the 4th quarter worth approximately $116,000. 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.