Legal & General Group Plc Buys New Position in Perpetua Resources Corp. $PPTA

Legal & General Group Plc purchased a new position in shares of Perpetua Resources Corp. (NASDAQ:PPTA) during the second quarter, Holdings Channel.com reports. The fund purchased 73,816 shares of the company’s stock, valued at approximately $1,532,000.

A number of other institutional investors also recently made changes to their positions in PPTA. The Manufacturers Life Insurance Company acquired a new stake in shares of Perpetua Resources in the 2nd quarter worth approximately $2,921,000. Cibc World Market Inc. acquired a new position in shares of Perpetua Resources during the second quarter valued at approximately $1,283,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Perpetua Resources during the second quarter worth approximately $15,128,000. Quantbot Technologies LP bought a new stake in Perpetua Resources during the second quarter worth approximately $486,000. Finally, Donald Smith & CO. Inc. acquired a new stake in Perpetua Resources in the second quarter worth approximately $2,245,000. 70.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PPTA has been the subject of a number of research reports. Zacks Research raised Perpetua Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Scotiabank began coverage on Perpetua Resources in a report on Tuesday, September 1st. They issued a “sector outperform” rating for the company. HC Wainwright reaffirmed a “buy” rating and set a $43.50 target price on shares of Perpetua Resources in a research note on Tuesday, August 18th. B. Riley Financial initiated coverage on Perpetua Resources in a report on Monday, August 3rd. They set a “buy” rating and a $30.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a research report on Friday, July 17th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.90.

Perpetua Resources Stock Performance

PPTA stock opened at $25.09 on Monday. Perpetua Resources Corp. has a one year low of $16.43 and a one year high of $37.37. The firm has a market capitalization of $3.14 billion, a PE ratio of -12.42 and a beta of 0.15. The firm has a 50-day moving average of $21.77 and a two-hundred day moving average of $26.00.

Perpetua Resources (NASDAQ:PPTA) last released its earnings results on Friday, August 14th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.59). During the same period last year, the firm earned $0.08 EPS. On average, equities research analysts anticipate that Perpetua Resources Corp. will post -2.16 earnings per share for the current year.

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. The company was formerly known as Midas Gold Corp. and changed its name to Perpetua Resources Corp.