Perpetua Resources (NASDAQ:PPTA) Shares Gap Up Following 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 trading hands.

Other research analysts also recently issued research reports about the stock. National Bank Financial started coverage on shares of Perpetua Resources in a research report on Friday, September 6th. They issued an “outperform” rating for the company. Roth Mkm boosted their target price on Perpetua Resources from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd.

Insider Buying and Selling at Perpetua Resources

In other Perpetua Resources news, insider Alan Douglas Haslam sold 40,000 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $10.07, for a total value of $402,800.00. Following the sale, the insider now owns 65,571 shares of the company’s stock, valued at approximately $660,299.97. This represents a 37.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of Perpetua Resources

Institutional investors and hedge funds have recently made changes to their positions in the stock. Continuum Advisory LLC lifted its position in shares of Perpetua Resources by 500.0% in the third quarter. Continuum Advisory LLC now owns 4,800 shares of the company’s stock valued at $44,000 after acquiring an additional 4,000 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of Perpetua Resources in the first quarter valued at $51,000. Flaharty Asset Management LLC purchased a new stake in shares of Perpetua Resources in the second quarter valued at $70,000. Intech Investment Management LLC purchased a new stake in shares of Perpetua Resources in the third quarter valued at $98,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Perpetua Resources in the third quarter valued at $123,000. 70.07% of the stock is currently owned by hedge funds and other institutional investors.

Perpetua Resources Price Performance

The company has a 50-day moving average price of $9.41 and a 200-day moving average price of $7.54. The firm has a market capitalization of $705.63 million, a PE ratio of -48.18 and a beta of 0.27.

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.