Monaco Asset Management SAM Sells 772,751 Shares of Perpetua Resources Corp. $PPTA

Monaco Asset Management SAM lessened its stake in shares of Perpetua Resources Corp. (NASDAQ:PPTA) by 74.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 270,249 shares of the company’s stock after selling 772,751 shares during the period. Perpetua Resources accounts for approximately 0.3% of Monaco Asset Management SAM’s holdings, making the stock its 18th biggest position. Monaco Asset Management SAM’s holdings in Perpetua Resources were worth $5,467,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PPTA. Steward Partners Investment Advisory LLC bought a new stake in shares of Perpetua Resources in the second quarter worth about $31,000. Private Trust Co. NA purchased a new position in Perpetua Resources during the 3rd quarter valued at approximately $35,000. Caitong International Asset Management Co. Ltd bought a new stake in Perpetua Resources in the 2nd quarter worth approximately $39,000. Farther Finance Advisors LLC purchased a new stake in shares of Perpetua Resources during the 3rd quarter worth approximately $52,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Perpetua Resources by 50.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,751 shares of the company’s stock valued at $58,000 after acquiring an additional 925 shares during the last quarter. Hedge funds and other institutional investors own 70.07% of the company’s stock.

Perpetua Resources Trading Up 0.1%

Perpetua Resources stock opened at $30.18 on Friday. Perpetua Resources Corp. has a 12-month low of $7.81 and a 12-month high of $35.97. The firm has a 50-day moving average price of $28.99 and a 200-day moving average price of $24.12. The firm has a market capitalization of $3.76 billion, a PE ratio of -60.36 and a beta of 0.03.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PPTA shares. BMO Capital Markets set a $44.00 price target on shares of Perpetua Resources in a research report on Tuesday, October 28th. B. Riley Financial restated a “buy” rating on shares of Perpetua Resources in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Perpetua Resources in a report on Thursday, January 22nd. Finally, HC Wainwright boosted their price objective on Perpetua Resources from $30.00 to $41.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.50.

Insiders Place Their Bets

In other news, insider Mckinsey Margaret Lyon sold 43,722 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $27.57, for a total transaction of $1,205,415.54. Following the transaction, the insider owned 132,110 shares of the company’s stock, valued at approximately $3,642,272.70. This represents a 24.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alexander Mcleod Sternhell sold 10,148 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $26.50, for a total value of $268,922.00. Following the completion of the sale, the director owned 19,352 shares in the company, valued at approximately $512,828. The trade was a 34.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 121,739 shares of company stock worth $3,289,604 over the last three months. 1.50% of the stock is currently owned by corporate insiders.

Perpetua Resources Company Profile

Perpetua Resources Inc (NASDAQ: PPTA), formerly known as eCobalt Solutions Inc, is a mineral exploration and development company focused on critical metals that support the global clean-energy transition. The company’s primary objective is to advance its flagship Idaho Cobalt Project, a permitted underground mine located near Stibnite, Idaho. This project is designed to produce cobalt, copper, gold and silver, with an emphasis on providing responsibly sourced materials to North American battery and technology markets.

In addition to its Idaho Cobalt Project, Perpetua Resources holds exploration licenses and mineral tenures across the United States and Canada.