Wellington Management Group LLP Makes New $11.90 Million Investment in Perpetua Resources Corp. $PPTA

Wellington Management Group LLP purchased a new position in Perpetua Resources Corp. (NASDAQ:PPTA) during the second quarter, HoldingsChannel.com reports. The fund purchased 573,404 shares of the company’s stock, valued at approximately $11,904,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Paulson & CO. Inc. bought a new stake in shares of Perpetua Resources during the 2nd quarter valued at about $671,530,000. BlackRock Inc. acquired a new position in Perpetua Resources in the second quarter valued at approximately $110,181,000. JPMorgan Chase & Co. grew its holdings in shares of Perpetua Resources by 3,107.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,910,833 shares of the company’s stock valued at $70,471,000 after purchasing an additional 2,820,067 shares during the last quarter. Alyeska Investment Group L.P. grew its holdings in shares of Perpetua Resources by 40.4% during the third quarter. Alyeska Investment Group L.P. now owns 4,581,234 shares of the company’s stock valued at $92,678,000 after purchasing an additional 1,318,008 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Perpetua Resources by 65.1% during the 4th quarter. Vanguard Group Inc. now owns 3,157,670 shares of the company’s stock worth $76,447,000 after purchasing an additional 1,245,630 shares during the period. 70.07% of the stock is owned by institutional investors and hedge funds.

Perpetua Resources Price Performance

PPTA opened at $25.09 on Tuesday. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of -12.42 and a beta of 0.15. Perpetua Resources Corp. has a 1-year low of $16.43 and a 1-year high of $37.37. The business has a 50 day moving average price of $21.86 and a two-hundred day moving average price of $25.98.

Perpetua Resources (NASDAQ:PPTA) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.59). During the same quarter in the prior year, the business posted $0.08 earnings per share. Equities analysts expect that Perpetua Resources Corp. will post -2.16 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Scotiabank initiated coverage on Perpetua Resources in a report on Tuesday, September 1st. They issued a “sector outperform” rating on the stock. HC Wainwright restated a “buy” rating and set a $43.50 price objective on shares of Perpetua Resources in a research note on Tuesday, August 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Perpetua Resources in a research report on Friday, July 17th. Zacks Research upgraded Perpetua Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Finally, B. Riley Financial assumed coverage on shares of Perpetua Resources in a report on Monday, August 3rd. They set a “buy” rating and a $30.00 price target for the company. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $35.90.

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.