Perpetua Resources Corp. (NASDAQ:PPTA – Get Free Report) shares rose 9.5% during trading on Wednesday . The stock traded as high as $26.90 and last traded at $26.9760. Approximately 1,111,030 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 1,698,023 shares. The stock had previously closed at $24.64.
Wall Street Analysts Forecast Growth
PPTA has been the subject of several recent analyst reports. Zacks Research cut Perpetua Resources from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 8th. HC Wainwright restated a “buy” rating and issued a $41.00 price target on shares of Perpetua Resources in a report on Wednesday, April 8th. B. Riley Financial lifted their price target on Perpetua Resources from $30.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, March 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Perpetua Resources in a report on Tuesday, April 21st. Six investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, Perpetua Resources presently has an average rating of “Moderate Buy” and a consensus price target of $35.00.
Check Out Our Latest Research Report on PPTA
Perpetua Resources Trading Up 9.5%
Perpetua Resources (NASDAQ:PPTA – Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.21). As a group, research analysts forecast that Perpetua Resources Corp. will post -1.54 earnings per share for the current year.
Insider Buying and Selling
In other Perpetua Resources news, insider Jonathan Cherry sold 4,079 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $29.31, for a total value of $119,555.49. Following the transaction, the insider directly owned 44,895 shares of the company’s stock, valued at $1,315,872.45. This represents a 8.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mckinsey Margaret Lyon sold 8,699 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $29.53, for a total value of $256,881.47. Following the completion of the transaction, the insider directly owned 142,329 shares in the company, valued at approximately $4,202,975.37. The trade was a 5.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.57% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC bought a new position in Perpetua Resources during the 4th quarter worth $31,000. UMB Bank n.a. bought a new position in Perpetua Resources during the 4th quarter worth $36,000. Kestra Advisory Services LLC bought a new position in Perpetua Resources during the 4th quarter worth $40,000. Aventura Private Wealth LLC bought a new position in Perpetua Resources during the 4th quarter worth $48,000. Finally, Pilgrim Partners Asia Pte Ltd grew its stake in Perpetua Resources by 225.0% during the 4th quarter. Pilgrim Partners Asia Pte Ltd now owns 2,600 shares of the company’s stock worth $63,000 after buying an additional 1,800 shares during the last quarter. 70.07% of the stock is currently owned by institutional investors.
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.
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