Perpetua Resources (NASDAQ:PPTA) Stock Price Up 10.5% – Here’s Why

Perpetua Resources Corp. (NASDAQ:PPTA) traded up 10.5% on Thursday . The company traded as high as $29.15 and last traded at $28.3980. 1,543,877 shares changed hands during trading, a decline of 29% from the average session volume of 2,177,178 shares. The stock had previously closed at $25.70.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. UBS Group set a $30.00 price target on shares of Perpetua Resources in a research note on Thursday, October 9th. Wall Street Zen downgraded shares of Perpetua Resources from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Zacks Research upgraded Perpetua Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Roth Capital set a $32.00 price objective on shares of Perpetua Resources and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Finally, HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Perpetua Resources in a research report on Tuesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $29.00.

Perpetua Resources Stock Performance

The firm’s fifty day moving average is $24.13 and its 200-day moving average is $18.96. The company has a market capitalization of $3.60 billion, a P/E ratio of -58.47 and a beta of 0.02.

Perpetua Resources (NASDAQ:PPTA) last announced its earnings results on Friday, November 14th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.23). As a group, analysts expect that Perpetua Resources Corp. will post -0.21 EPS for the current fiscal year.

Insider Transactions at Perpetua Resources

In other news, insider Jonathan Cherry sold 14,911 shares of the stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $23.72, for a total value of $353,688.92. Following the completion of the sale, the insider directly owned 36,249 shares of the company’s stock, valued at $859,826.28. This represents a 29.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.50% of the company’s stock.

Institutional Trading of Perpetua Resources

Hedge funds and other institutional investors have recently modified their holdings of the business. Lowe Wealth Advisors LLC bought a new stake in shares of Perpetua Resources during the second quarter valued at approximately $26,000. Steward Partners Investment Advisory LLC bought a new position in Perpetua Resources during the 2nd quarter valued at approximately $31,000. Private Trust Co. NA purchased a new position in Perpetua Resources during the third quarter valued at $35,000. Caitong International Asset Management Co. Ltd bought a new stake in Perpetua Resources in the second quarter worth $39,000. Finally, Farther Finance Advisors LLC bought a new stake in Perpetua Resources in the third quarter worth $52,000. Institutional investors own 70.07% of the company’s stock.

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.