Perpetua Resources (NASDAQ:PPTA) Shares Up 7.8% – Time to Buy?

Perpetua Resources Corp. (NASDAQ:PPTA) shares traded up 7.8% during trading on Monday . The stock traded as high as $12.60 and last traded at $12.75. 191,638 shares were traded during trading, a decline of 66% from the average session volume of 559,736 shares. The stock had previously closed at $11.83.

Wall Street Analysts Forecast Growth

PPTA has been the topic of several research analyst reports. National Bankshares reiterated an “outperform” rating on shares of Perpetua Resources in a research note on Wednesday, April 2nd. Roth Mkm upped their price target on shares of Perpetua Resources from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. HC Wainwright raised their price objective on shares of Perpetua Resources from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. Finally, National Bank Financial raised shares of Perpetua Resources to a “strong-buy” rating in a report on Friday, March 21st.

Perpetua Resources Stock Down 3.5 %

The stock has a fifty day moving average price of $10.20 and a 200-day moving average price of $10.54. The firm has a market cap of $936.28 million, a price-to-earnings ratio of -60.27 and a beta of 0.12.

Perpetua Resources (NASDAQ:PPTA) last announced its quarterly earnings data on Wednesday, March 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.03. As a group, research analysts expect that Perpetua Resources Corp. will post -0.21 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Mckinsey Margaret Lyon sold 20,000 shares of the company’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $11.00, for a total transaction of $220,000.00. Following the transaction, the insider now owns 89,154 shares of the company’s stock, valued at $980,694. This represents a 18.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alan Douglas Haslam sold 10,400 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $9.24, for a total value of $96,096.00. Following the completion of the sale, the insider now directly owns 65,763 shares of the company’s stock, valued at approximately $607,650.12. This trade represents a 13.65 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 20,230 shares of company stock valued at $166,582 and sold 53,110 shares valued at $516,398. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Perpetua Resources

Institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its position in shares of Perpetua Resources by 6.0% during the 1st quarter. Rhumbline Advisers now owns 64,688 shares of the company’s stock valued at $692,000 after acquiring an additional 3,672 shares during the period. GAMMA Investing LLC increased its stake in Perpetua Resources by 1,658.4% in the 1st quarter. GAMMA Investing LLC now owns 4,308 shares of the company’s stock valued at $46,000 after purchasing an additional 4,063 shares in the last quarter. Polar Asset Management Partners Inc. acquired a new position in Perpetua Resources during the fourth quarter worth $1,937,000. Squarepoint Ops LLC raised its holdings in Perpetua Resources by 222.4% during the fourth quarter. Squarepoint Ops LLC now owns 246,029 shares of the company’s stock worth $2,625,000 after purchasing an additional 169,713 shares during the last quarter. Finally, Tidal Investments LLC purchased a new stake in Perpetua Resources during the fourth quarter worth $143,000. Hedge funds and other institutional investors own 70.07% of the company’s stock.

About Perpetua Resources

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.