Purpose Unlimited Inc. Acquires Shares of 74,260 Perpetua Resources Corp. $PPTA

Purpose Unlimited Inc. acquired a new stake in shares of Perpetua Resources Corp. (NASDAQ:PPTA) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 74,260 shares of the company’s stock, valued at approximately $1,798,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TD Asset Management Inc bought a new position in Perpetua Resources during the 3rd quarter valued at about $2,648,000. Hohimer Wealth Management LLC acquired a new position in Perpetua Resources in the third quarter valued at about $1,812,000. Citigroup Inc. grew its stake in Perpetua Resources by 462.8% during the third quarter. Citigroup Inc. now owns 157,599 shares of the company’s stock worth $3,190,000 after buying an additional 129,594 shares during the last quarter. Lombard Odier Asset Management USA Corp bought a new stake in Perpetua Resources during the third quarter worth about $1,806,000. Finally, Accordant Advisory Group Inc acquired a new stake in shares of Perpetua Resources during the fourth quarter worth approximately $1,640,000. Institutional investors and hedge funds own 70.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PPTA shares. B. Riley Financial lifted their target price on shares of Perpetua Resources from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, March 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Perpetua Resources in a research report on Tuesday, April 21st. HC Wainwright raised their price target on Perpetua Resources from $41.00 to $43.50 and gave the company a “buy” rating in a report on Tuesday, May 26th. Finally, Zacks Research upgraded Perpetua Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Perpetua Resources currently has an average rating of “Moderate Buy” and a consensus target price of $35.42.

Insider Buying and Selling

In other news, insider Mckinsey Margaret Lyon sold 8,699 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $29.53, for a total transaction of $256,881.47. Following the sale, the insider directly owned 142,329 shares of the company’s stock, valued at $4,202,975.37. This represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan Cherry sold 4,079 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $29.31, for a total transaction of $119,555.49. Following the completion of the sale, the insider directly owned 44,895 shares of the company’s stock, valued at approximately $1,315,872.45. This represents a 8.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.57% of the stock is currently owned by corporate insiders.

Perpetua Resources Price Performance

Shares of NASDAQ PPTA opened at $24.32 on Friday. Perpetua Resources Corp. has a 12-month low of $11.68 and a 12-month high of $37.37. The firm’s 50-day simple moving average is $27.58 and its 200 day simple moving average is $28.59. The company has a market cap of $3.04 billion and a price-to-earnings ratio of -18.42.

Perpetua Resources (NASDAQ:PPTA) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.21). On average, equities analysts expect that Perpetua Resources Corp. will post -1.42 earnings per share for the current year.

Perpetua Resources Company Profile

Perpetua Resources Inc (NASDAQ: PPTA), formerly known as eCobalt Solutions Inc, is a mineral exploration and development company focused on critical metals that support the global clean-energy transition. The company’s primary objective is to advance its flagship Idaho Cobalt Project, a permitted underground mine located near Stibnite, Idaho. This project is designed to produce cobalt, copper, gold and silver, with an emphasis on providing responsibly sourced materials to North American battery and technology markets.

In addition to its Idaho Cobalt Project, Perpetua Resources holds exploration licenses and mineral tenures across the United States and Canada.