Perpetua Resources (NASDAQ:PPTA) Shares Gap Up on Analyst Upgrade

Perpetua Resources Corp. (NASDAQ:PPTA) shares gapped up before the market opened on Friday after HC Wainwright raised their price target on the stock from $13.25 to $22.00. The stock had previously closed at $9.10, but opened at $9.43. HC Wainwright currently has a buy rating on the stock. Perpetua Resources shares last traded at $9.77, with a volume of 132,325 shares traded.

Several other brokerages have also recently issued reports on PPTA. Roth Mkm raised their target price on shares of Perpetua Resources from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. National Bank Financial began coverage on shares of Perpetua Resources in a report on Friday, September 6th. They issued an “outperform” rating on the stock.

Insiders Place Their Bets

In other Perpetua Resources news, insider Alan Douglas Haslam sold 40,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $10.07, for a total transaction of $402,800.00. Following the transaction, the insider now directly owns 65,571 shares of the company’s stock, valued at approximately $660,299.97. The trade was a 37.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Perpetua Resources

A number of large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD bought a new position in Perpetua Resources in the first quarter worth about $51,000. Flaharty Asset Management LLC bought a new position in shares of Perpetua Resources in the 2nd quarter worth approximately $70,000. Intech Investment Management LLC purchased a new position in shares of Perpetua Resources in the 3rd quarter valued at approximately $98,000. Quantbot Technologies LP purchased a new position in shares of Perpetua Resources in the 3rd quarter valued at approximately $123,000. Finally, American Century Companies Inc. bought a new stake in shares of Perpetua Resources during the second quarter valued at approximately $124,000. Institutional investors own 70.07% of the company’s stock.

Perpetua Resources Price Performance

The company has a 50 day moving average of $9.37 and a two-hundred day moving average of $7.49. The company has a market capitalization of $659.04 million, a PE ratio of -44.95 and a beta of 0.27.

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.