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

Perpetua Resources Corp. (NASDAQ:PPTA) shares gapped up before the market opened on Tuesday . The stock had previously closed at $8.19, but opened at $8.50. Perpetua Resources shares last traded at $8.54, with a volume of 69,561 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PPTA shares. Roth Mkm upped their price target on shares of Perpetua Resources from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. HC Wainwright upped their target price on shares of Perpetua Resources from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th.

Perpetua Resources Trading Up 0.3 %

The firm has a market capitalization of $648.54 million, a P/E ratio of -41.91 and a beta of 0.27. The stock has a 50-day simple moving average of $10.75 and a two-hundred day simple moving average of $10.17.

Insider Activity at Perpetua Resources

In related news, Director Robert Alan Dean bought 5,000 shares of the company’s stock in a transaction on Friday, February 21st. The shares were acquired at an average price of $8.32 per share, with a total value of $41,600.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $83,200. The trade was a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mckinsey Margaret Lyon sold 22,710 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $8.82, for a total value of $200,302.20. Following the completion of the transaction, the insider now directly owns 89,154 shares of the company’s stock, valued at approximately $786,338.28. The trade was a 20.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought 20,230 shares of company stock worth $166,582 over the last three months. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Perpetua Resources

Institutional investors have recently added to or reduced their stakes in the stock. Fourth Sail Capital LP purchased a new stake in shares of Perpetua Resources during the third quarter valued at about $10,405,000. Intech Investment Management LLC bought a new position in shares of Perpetua Resources during the 3rd quarter worth approximately $98,000. Quantbot Technologies LP purchased a new stake in Perpetua Resources during the third quarter valued at approximately $123,000. PEAK6 Investments LLC acquired a new stake in Perpetua Resources in the third quarter valued at approximately $243,000. Finally, State Street Corp boosted its stake in Perpetua Resources by 8.8% in the third quarter. State Street Corp now owns 593,502 shares of the company’s stock valued at $5,549,000 after acquiring an additional 48,220 shares in the last quarter. Institutional investors own 70.07% of the company’s stock.

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.