Monaco Asset Management SAM Acquires New Shares in Perpetua Resources Corp. $PPTA

Monaco Asset Management SAM bought a new position in Perpetua Resources Corp. (NASDAQ:PPTA) in the second quarter, HoldingsChannel reports. The fund bought 1,043,000 shares of the company’s stock, valued at approximately $12,662,000. Perpetua Resources accounts for approximately 2.2% of Monaco Asset Management SAM’s investment portfolio, making the stock its 5th biggest position.

Several other large investors have also recently bought and sold shares of PPTA. Lowe Wealth Advisors LLC bought a new stake in shares of Perpetua Resources during the second quarter worth about $26,000. Caitong International Asset Management Co. Ltd bought a new position in Perpetua Resources in the 2nd quarter valued at approximately $39,000. Quantbot Technologies LP bought a new position in Perpetua Resources in the 1st quarter valued at approximately $76,000. KLP Kapitalforvaltning AS acquired a new stake in Perpetua Resources during the 1st quarter worth approximately $94,000. Finally, Sowell Financial Services LLC bought a new stake in Perpetua Resources during the 2nd quarter worth approximately $121,000. 70.07% of the stock is currently owned by institutional investors.

Perpetua Resources Stock Up 6.9%

PPTA stock opened at $22.28 on Friday. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of -71.87 and a beta of 0.02. The company’s fifty day simple moving average is $21.56 and its 200 day simple moving average is $17.29. Perpetua Resources Corp. has a 12-month low of $7.81 and a 12-month high of $31.65.

Perpetua Resources (NASDAQ:PPTA) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.06. Research analysts expect that Perpetua Resources Corp. will post -0.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PPTA shares. B. Riley restated a “buy” rating on shares of Perpetua Resources in a research report on Thursday, October 30th. Royal Bank Of Canada began coverage on shares of Perpetua Resources in a research note on Friday, July 18th. They issued an “outperform” rating and a $23.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Perpetua Resources in a research report on Wednesday, October 8th. Zacks Research raised Perpetua Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Finally, Roth Capital set a $32.00 price target on Perpetua Resources and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Two equities research 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $29.00.

Insider Buying and Selling

In other Perpetua Resources news, insider Michael Stephen Wright sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $18.31, for a total value of $183,100.00. Following the transaction, the insider directly owned 14,195 shares of the company’s stock, valued at approximately $259,910.45. The trade was a 41.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jonathan Cherry sold 14,911 shares of the firm’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 sale, the insider directly owned 36,249 shares of the company’s stock, valued at approximately $859,826.28. This trade represents a 29.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.50% of the company’s stock.

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.