Perpetua Resources (NASDAQ:PPTA) Hits New 52-Week High – Here’s What Happened

Perpetua Resources Corp. (NASDAQ:PPTA) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $10.68 and last traded at $10.61, with a volume of 93425 shares trading hands. The stock had previously closed at $10.38.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PPTA. HC Wainwright restated a “buy” rating and set a $13.25 price objective on shares of Perpetua Resources in a research note on Thursday, August 22nd. Roth Mkm raised their price target on shares of Perpetua Resources from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, National Bank Financial started coverage on shares of Perpetua Resources in a report on Friday, September 6th. They issued an “outperform” rating on the stock.

Perpetua Resources Stock Down 5.0 %

The firm has a market capitalization of $655.77 million, a price-to-earnings ratio of -37.63 and a beta of 0.29. The stock has a 50 day moving average of $8.97 and a 200 day moving average of $7.08.

Perpetua Resources (NASDAQ:PPTA) last issued its earnings results on Friday, August 9th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. Analysts predict that Perpetua Resources Corp. will post -0.21 earnings per share for the current year.

Insiders Place Their Bets

In other Perpetua Resources news, insider Alan Douglas Haslam sold 40,000 shares of the 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 sale, the insider now directly owns 65,571 shares of the company’s stock, valued at approximately $660,299.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Perpetua Resources

A number of institutional investors have recently modified their holdings of PPTA. Herr Investment Group LLC boosted its stake in Perpetua Resources by 5.8% in the second quarter. Herr Investment Group LLC now owns 1,450,498 shares of the company’s stock valued at $7,543,000 after acquiring an additional 80,000 shares during the period. Russell Investments Group Ltd. boosted its position in Perpetua Resources by 1.6% during the 1st quarter. Russell Investments Group Ltd. now owns 581,600 shares of the company’s stock valued at $2,419,000 after purchasing an additional 8,985 shares during the period. M&G Plc bought a new position in Perpetua Resources during the 1st quarter worth $805,000. Bank of New York Mellon Corp increased its position in Perpetua Resources by 20.0% in the second quarter. Bank of New York Mellon Corp now owns 107,551 shares of the company’s stock worth $559,000 after buying an additional 17,954 shares during the period. Finally, Nokomis Capital L.L.C. bought a new stake in Perpetua Resources in the first quarter valued at $406,000. 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.