Cohen & Steers Inc. Makes New Investment in Perpetua Resources Corp. (NASDAQ:PPTA)

Cohen & Steers Inc. bought a new stake in shares of Perpetua Resources Corp. (NASDAQ:PPTA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 255,768 shares of the company’s stock, valued at approximately $2,729,000.

Several other large investors have also recently made changes to their positions in the company. Sprott Inc. increased its holdings in Perpetua Resources by 5.3% in the fourth quarter. Sprott Inc. now owns 2,938,871 shares of the company’s stock valued at $31,358,000 after buying an additional 148,273 shares in the last quarter. Amundi purchased a new position in shares of Perpetua Resources in the 4th quarter valued at about $7,788,000. State Street Corp raised its holdings in Perpetua Resources by 8.8% in the 3rd quarter. State Street Corp now owns 593,502 shares of the company’s stock worth $5,549,000 after purchasing an additional 48,220 shares during the period. Geode Capital Management LLC grew its holdings in Perpetua Resources by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 489,958 shares of the company’s stock valued at $5,228,000 after purchasing an additional 5,129 shares during the period. Finally, Barclays PLC increased its position in shares of Perpetua Resources by 167.6% in the fourth quarter. Barclays PLC now owns 198,340 shares of the company’s stock valued at $2,115,000 after buying an additional 124,221 shares in the last quarter. 70.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Mckinsey Margaret Lyon sold 20,000 shares of the firm’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $11.00, for a total transaction of $220,000.00. Following the completion of the sale, the insider now directly owns 89,154 shares in the company, valued at approximately $980,694. This trade represents a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Alan Dean bought 5,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was purchased at an average price of $8.32 per share, for a total transaction of $41,600.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $83,200. The trade was a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 20,230 shares of company stock worth $166,582 and have sold 53,110 shares worth $516,398. 1.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Perpetua Resources Stock Up 16.1 %

Shares of NASDAQ PPTA opened at $13.74 on Tuesday. The firm has a 50-day simple moving average of $10.17 and a 200-day simple moving average of $10.52. The stock has a market capitalization of $970.17 million, a price-to-earnings ratio of -62.45 and a beta of 0.12. Perpetua Resources Corp. has a 52 week low of $4.96 and a 52 week high of $13.75.

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

Perpetua Resources 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.