Jonathan Cherry Sells 4,079 Shares of Perpetua Resources (NASDAQ:PPTA) Stock

Perpetua Resources Corp. (NASDAQ:PPTA) insider Jonathan Cherry sold 4,079 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $29.31, for a total transaction of $119,555.49. Following the sale, the insider directly owned 44,895 shares in the company, valued at $1,315,872.45. This trade represents a 8.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Perpetua Resources Stock Performance

PPTA opened at $29.43 on Friday. The company has a fifty day moving average of $30.05 and a two-hundred day moving average of $26.74. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of -28.03 and a beta of 0.15. Perpetua Resources Corp. has a fifty-two week low of $8.84 and a fifty-two week high of $37.37.

Perpetua Resources (NASDAQ:PPTA) last posted its earnings results on Tuesday, March 31st. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.60). On average, equities research analysts forecast that Perpetua Resources Corp. will post -0.21 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on PPTA shares. B. Riley Financial raised their price objective on Perpetua Resources from $30.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, March 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a research report on Thursday, January 22nd. Finally, HC Wainwright boosted their price target on shares of Perpetua Resources from $30.00 to $41.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Institutional Trading of Perpetua Resources

Large investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC acquired a new position in shares of Perpetua Resources during the 4th quarter worth approximately $31,000. UMB Bank n.a. acquired a new stake in shares of Perpetua Resources in the fourth quarter valued at approximately $36,000. Kestra Advisory Services LLC purchased a new position in Perpetua Resources during the fourth quarter worth approximately $40,000. Private Trust Co. NA purchased a new position in Perpetua Resources during the third quarter worth approximately $35,000. Finally, Aventura Private Wealth LLC acquired a new position in Perpetua Resources during the fourth quarter worth $48,000. 70.07% of the stock is currently owned by hedge funds and other institutional investors.

About Perpetua Resources

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.