Cardinal Point Capital Management ULC Takes $182,000 Position in Perpetua Resources Corp. $PPTA

Cardinal Point Capital Management ULC purchased a new stake in Perpetua Resources Corp. (NASDAQ:PPTA) in the 2nd quarter, Holdings Channel reports. The fund purchased 15,000 shares of the company’s stock, valued at approximately $182,000.

Several other hedge funds have also modified their holdings of the business. Ethic Inc. boosted its holdings in Perpetua Resources by 87.5% during the second quarter. Ethic Inc. now owns 26,364 shares of the company’s stock worth $313,000 after buying an additional 12,303 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in Perpetua Resources during the second quarter worth about $1,405,000. Harbour Investments Inc. boosted its holdings in Perpetua Resources by 77.5% during the second quarter. Harbour Investments Inc. now owns 49,562 shares of the company’s stock worth $602,000 after buying an additional 21,637 shares in the last quarter. U S Global Investors Inc. boosted its holdings in Perpetua Resources by 66.7% during the second quarter. U S Global Investors Inc. now owns 50,000 shares of the company’s stock worth $607,000 after buying an additional 20,000 shares in the last quarter. Finally, Clear Creek Financial Management LLC purchased a new stake in Perpetua Resources during the second quarter worth about $126,000. 70.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Perpetua Resources

In related news, insider Michael Stephen Wright sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $18.31, for a total transaction of $183,100.00. Following the completion of the transaction, the insider owned 14,195 shares of the company’s stock, valued at approximately $259,910.45. This represents a 41.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jonathan Cherry sold 14,911 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $23.72, for a total transaction of $353,688.92. Following the transaction, the insider directly owned 36,249 shares of the company’s stock, valued at $859,826.28. This trade represents a 29.15% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PPTA shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a report on Wednesday, October 8th. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Perpetua Resources in a report on Tuesday, September 23rd. Wall Street Zen downgraded shares of Perpetua Resources from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. UBS Group set a $30.00 price target on shares of Perpetua Resources in a report on Thursday, October 9th. Finally, Zacks Research raised shares of Perpetua Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Perpetua Resources presently has an average rating of “Buy” and an average price target of $28.57.

Perpetua Resources Price Performance

NASDAQ:PPTA opened at $23.30 on Friday. The firm has a 50 day simple moving average of $20.51 and a 200-day simple moving average of $16.48. The firm has a market cap of $2.51 billion, a PE ratio of -75.16 and a beta of 0.01. Perpetua Resources Corp. has a 1-year low of $7.81 and a 1-year high of $31.65.

Perpetua Resources (NASDAQ:PPTA) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.06. As a group, sell-side analysts expect that Perpetua Resources Corp. will post -0.21 earnings per share for the current fiscal year.

Perpetua Resources 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.