Cibc World Market Inc. Takes Position in Perpetua Resources Corp. $PPTA

Cibc World Market Inc. acquired a new position in Perpetua Resources Corp. (NASDAQ:PPTA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 61,862 shares of the company’s stock, valued at approximately $1,283,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PPTA. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Perpetua Resources during the 2nd quarter valued at about $15,128,000. Quantbot Technologies LP acquired a new stake in Perpetua Resources in the second quarter worth about $486,000. Donald Smith & CO. Inc. purchased a new stake in shares of Perpetua Resources during the second quarter worth about $2,245,000. BlackRock Inc. purchased a new stake in shares of Perpetua Resources during the second quarter worth about $110,181,000. Finally, Deutsche Bank AG acquired a new position in shares of Perpetua Resources during the second quarter valued at about $8,905,000. 70.07% of the stock is currently owned by hedge funds and other institutional investors.

Perpetua Resources Stock Performance

Shares of PPTA stock opened at $26.18 on Friday. The stock’s 50-day simple moving average is $21.49 and its 200-day simple moving average is $26.19. The firm has a market capitalization of $3.28 billion, a PE ratio of -12.96 and a beta of 0.09. Perpetua Resources Corp. has a fifty-two week low of $16.43 and a fifty-two week high of $37.37.

Perpetua Resources (NASDAQ:PPTA) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.59). During the same period in the previous year, the firm posted $0.08 earnings per share. Sell-side analysts forecast that Perpetua Resources Corp. will post -2.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PPTA shares. Zacks Research raised shares of Perpetua Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. B. Riley Financial began coverage on shares of Perpetua Resources in a research report on Monday, August 3rd. They set a “buy” rating and a $30.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Perpetua Resources in a report on Friday, July 17th. Finally, HC Wainwright reiterated a “buy” rating and set a $43.50 price objective on shares of Perpetua Resources in a research note on Tuesday, August 18th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $35.90.

Perpetua Resources 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. The company was formerly known as Midas Gold Corp. and changed its name to Perpetua Resources Corp.