Short Interest in Perpetua Resources Corp. (NASDAQ:PPTA) Rises By 30.4%

Perpetua Resources Corp. (NASDAQ:PPTA) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 4,380,000 shares, a growth of 30.4% from the March 15th total of 3,360,000 shares. Based on an average daily volume of 986,400 shares, the short-interest ratio is currently 4.4 days. Approximately 6.2% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. HC Wainwright boosted their price objective on Perpetua Resources from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, March 21st. Roth Mkm upped their price target on shares of Perpetua Resources from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. National Bank Financial upgraded shares of Perpetua Resources to a “strong-buy” rating in a research report on Friday, March 21st. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Perpetua Resources in a report on Wednesday, April 2nd.

Perpetua Resources Trading Down 1.5 %

NASDAQ PPTA opened at $13.15 on Friday. Perpetua Resources has a 12 month low of $4.96 and a 12 month high of $13.81. The stock’s 50 day moving average is $10.27 and its 200 day moving average is $10.62. The stock has a market cap of $928.51 million, a PE ratio of -59.77 and a beta of 0.12.

Perpetua Resources (NASDAQ:PPTA) last issued its earnings results on Wednesday, March 19th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. On average, analysts forecast that Perpetua Resources will post -0.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Alan Douglas Haslam sold 10,400 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was 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 in the company, valued at $607,650.12. This represents a 13.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Andrew Phillip Cole bought 9,450 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were bought at an average price of $7.99 per share, for a total transaction of $75,505.50. Following the completion of the transaction, the director now directly owns 9,450 shares of the company’s stock, valued at $75,505.50. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 20,230 shares of company stock valued at $166,582 and have sold 53,110 shares valued at $516,398. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PPTA. Rhumbline Advisers lifted its position in shares of Perpetua Resources by 6.0% in the first quarter. Rhumbline Advisers now owns 64,688 shares of the company’s stock worth $692,000 after buying an additional 3,672 shares in the last quarter. 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 worth $46,000 after acquiring an additional 4,063 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new stake in shares of Perpetua Resources during the 4th quarter worth approximately $1,937,000. Squarepoint Ops LLC boosted its position in shares of Perpetua Resources by 222.4% during the 4th quarter. Squarepoint Ops LLC now owns 246,029 shares of the company’s stock valued at $2,625,000 after acquiring an additional 169,713 shares during the last quarter. Finally, Tidal Investments LLC bought a new position in shares of Perpetua Resources during the 4th quarter valued at approximately $143,000. Institutional investors own 70.07% of the company’s stock.

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.