Perpetua Resources (NASDAQ:PPTA) Shares Gap Up to $8.19

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) gapped up prior to trading on Friday . The stock had previously closed at $8.19, but opened at $8.45. Perpetua Resources shares last traded at $8.44, with a volume of 137,864 shares trading hands.

Analyst Ratings Changes

Separately, HC Wainwright boosted their price target 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 0.2 %

The firm has a market capitalization of $527.70 million, a P/E ratio of -30.22 and a beta of 0.25. The firm has a 50 day moving average of $6.19 and a 200-day moving average of $5.19.

Perpetua Resources (NASDAQ:PPTA) last issued its quarterly earnings results on Friday, August 9th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. As a group, research analysts expect that Perpetua Resources Corp. will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Perpetua Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in PPTA. Price T Rowe Associates Inc. MD bought a new stake in Perpetua Resources during the first quarter worth $51,000. Flaharty Asset Management LLC bought a new stake in Perpetua Resources during the second quarter worth $70,000. American Century Companies Inc. bought a new stake in Perpetua Resources during the second quarter worth $124,000. National Bank of Canada FI bought a new stake in Perpetua Resources during the fourth quarter worth $148,000. Finally, Marshall Wace LLP bought a new stake in Perpetua Resources during the second quarter worth $197,000. 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.