Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Perpetua Resources Corp. $PPTA

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Perpetua Resources Corp. (NASDAQ:PPTA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 729,520 shares of the company’s stock, valued at approximately $15,128,000. Connor Clark & Lunn Investment Management Ltd. owned 0.58% of Perpetua Resources as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Quantbot Technologies LP bought a new stake in shares of Perpetua Resources in the second quarter valued at about $486,000. Donald Smith & CO. Inc. acquired a new stake in Perpetua Resources during the second quarter worth about $2,245,000. BlackRock Inc. bought a new position in Perpetua Resources during the second quarter valued at about $110,181,000. Deutsche Bank AG bought a new position in Perpetua Resources during the second quarter valued at about $8,905,000. Finally, Global Retirement Partners LLC acquired a new position in Perpetua Resources in the 2nd quarter valued at approximately $107,000. Institutional investors and hedge funds own 70.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on PPTA shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a research report on Friday, July 17th. HC Wainwright restated a “buy” rating and set a $43.50 price objective on shares of Perpetua Resources in a research report on Tuesday, August 18th. B. Riley Financial started coverage on Perpetua Resources in a research note on Monday, August 3rd. They issued a “buy” rating and a $30.00 target price for the company. Finally, Zacks Research raised Perpetua Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.90.

Perpetua Resources Trading Up 4.2%

NASDAQ PPTA opened at $27.02 on Wednesday. Perpetua Resources Corp. has a 1-year low of $16.43 and a 1-year high of $37.37. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of -13.38 and a beta of 0.09. The stock’s 50 day moving average is $21.43 and its two-hundred day moving average is $26.21.

Perpetua Resources (NASDAQ:PPTA) last posted its earnings results on Friday, August 14th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.59). During the same period last year, the company posted $0.08 earnings per share. On average, analysts predict 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.