Perpetua Resources (NASDAQ:PPTA) Sets New 12-Month High – Here’s Why

Perpetua Resources Corp. (NASDAQ:PPTA)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $32.20 and last traded at $31.3370, with a volume of 555119 shares traded. The stock had previously closed at $31.05.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PPTA shares. Roth Capital set a $32.00 target price on Perpetua Resources and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. B. Riley reiterated a “buy” rating on shares of Perpetua Resources in a research report on Thursday, October 30th. Zacks Research upgraded shares of Perpetua Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Perpetua Resources in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Perpetua Resources from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $30.67.

Perpetua Resources Price Performance

The stock has a market capitalization of $3.88 billion, a P/E ratio of -62.64 and a beta of 0.03. The stock’s 50-day simple moving average is $25.85 and its 200 day simple moving average is $21.30.

Perpetua Resources (NASDAQ:PPTA) last issued its quarterly earnings data 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 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert Alan Dean sold 6,490 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $27.55, for a total value of $178,799.50. Following the sale, the director directly owned 23,510 shares of the company’s stock, valued at $647,700.50. This trade represents a 21.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Alexander Mcleod Sternhell sold 10,148 shares of Perpetua Resources stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $26.50, for a total value of $268,922.00. Following the sale, the director directly owned 19,352 shares in the company, valued at $512,828. The trade was a 34.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 78,017 shares of company stock valued at $2,084,188. 1.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC raised its holdings in shares of Perpetua Resources by 12.6% during the first quarter. AQR Capital Management LLC now owns 15,909 shares of the company’s stock valued at $170,000 after purchasing an additional 1,780 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Perpetua Resources by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,958 shares of the company’s stock valued at $672,000 after buying an additional 2,680 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Perpetua Resources by 219.0% during the first quarter. Millennium Management LLC now owns 1,181,899 shares of the company’s stock valued at $12,634,000 after buying an additional 811,363 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Perpetua Resources by 1.7% during the first quarter. Goldman Sachs Group Inc. now owns 108,921 shares of the company’s stock worth $1,164,000 after acquiring an additional 1,835 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Perpetua Resources by 6.0% in the 1st quarter. Rhumbline Advisers now owns 64,688 shares of the company’s stock worth $692,000 after acquiring an additional 3,672 shares during the last quarter. 70.07% of the stock is owned by institutional investors.

Perpetua Resources Company Profile

Perpetua Resources Inc (NASDAQ: PPTA), formerly known as eCobalt Solutions Inc, is a mineral exploration and development company focused on critical metals that support the global clean-energy transition. The company’s primary objective is to advance its flagship Idaho Cobalt Project, a permitted underground mine located near Stibnite, Idaho. This project is designed to produce cobalt, copper, gold and silver, with an emphasis on providing responsibly sourced materials to North American battery and technology markets.

In addition to its Idaho Cobalt Project, Perpetua Resources holds exploration licenses and mineral tenures across the United States and Canada.