Perpetua Resources (NASDAQ:PPTA) Stock Price Up 11.9%

Perpetua Resources Corp. (NASDAQ:PPTA)’s share price rose 11.9% during trading on Monday . The stock traded as high as $6.50 and last traded at $6.50. Approximately 268,832 shares were traded during trading, an increase of 48% from the average daily volume of 182,076 shares. The stock had previously closed at $5.81.

Wall Street Analysts Forecast Growth

PPTA has been the subject of several research analyst reports. Roth Mkm increased their target price on Perpetua Resources from $7.25 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. HC Wainwright increased their target price on Perpetua Resources from $10.50 to $13.25 and gave the company a “buy” rating in a research note on Tuesday, May 14th.

Perpetua Resources Stock Down 4.3 %

The company has a 50 day moving average of $6.07 and a 200-day moving average of $4.73. The stock has a market capitalization of $425.96 million, a P/E ratio of -24.44 and a beta of 0.25.

Perpetua Resources (NASDAQ:PPTA) last announced its quarterly earnings data on Friday, May 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Equities analysts forecast that Perpetua Resources Corp. will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Perpetua Resources

Several large investors have recently added to or reduced their stakes in PPTA. Herr Investment Group LLC bought a new position in Perpetua Resources during the first quarter worth $5,701,000. Donald Smith & CO. Inc. acquired a new stake in Perpetua Resources in the fourth quarter worth $999,000. M&G Plc acquired a new stake in Perpetua Resources in the first quarter worth $805,000. Krilogy Financial LLC increased its position in Perpetua Resources by 10.7% in the fourth quarter. Krilogy Financial LLC now owns 1,667,340 shares of the company’s stock worth $5,285,000 after buying an additional 161,550 shares during the period. Finally, Nokomis Capital L.L.C. acquired a new stake in Perpetua Resources in the first quarter worth $406,000. 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.