Perpetua Resources (NASDAQ:PPTA) Shares Gap Up – What’s Next?

Perpetua Resources Corp. (NASDAQ:PPTA)’s share price gapped up prior to trading on Monday . The stock had previously closed at $11.08, but opened at $12.85. Perpetua Resources shares last traded at $12.84, with a volume of 574,902 shares changing hands.

Wall Street Analyst Weigh In

PPTA has been the subject of a number of research reports. HC Wainwright lifted their price target on Perpetua Resources from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday. Roth Mkm lifted their target price on Perpetua Resources from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday.

Perpetua Resources Trading Down 2.0 %

The stock’s 50-day moving average price is $10.67 and its 200-day moving average price is $8.82. The company has a market capitalization of $877.86 million, a P/E ratio of -56.86 and a beta of 0.19.

Insider Buying and Selling

In related 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 transaction of $402,800.00. Following the completion of the transaction, the insider now directly owns 65,571 shares in the company, valued at $660,299.97. This represents a 37.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Perpetua Resources

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in shares of Perpetua Resources by 232.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 57,158 shares of the company’s stock worth $534,000 after acquiring an additional 39,954 shares during the period. Virtu Financial LLC grew its position in Perpetua Resources by 43.6% in the 3rd quarter. Virtu Financial LLC now owns 34,478 shares of the company’s stock worth $322,000 after purchasing an additional 10,463 shares during the last quarter. Barclays PLC increased its stake in shares of Perpetua Resources by 63.4% in the third quarter. Barclays PLC now owns 74,119 shares of the company’s stock valued at $694,000 after purchasing an additional 28,746 shares during the period. Geode Capital Management LLC raised its holdings in shares of Perpetua Resources by 0.5% during the third quarter. Geode Capital Management LLC now owns 484,829 shares of the company’s stock valued at $4,533,000 after buying an additional 2,252 shares during the last quarter. Finally, Continuum Advisory LLC boosted its position in shares of Perpetua Resources by 500.0% during the third quarter. Continuum Advisory LLC now owns 4,800 shares of the company’s stock worth $44,000 after buying an additional 4,000 shares during the period. 70.07% of the stock is currently owned by institutional investors.

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.