Capstone Wealth Management Group LLC purchased a new stake in Perpetua Resources Corp. (NASDAQ:PPTA – Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 37,455 shares of the company’s stock, valued at approximately $758,000.
Several other institutional investors and hedge funds also recently made changes to their positions in PPTA. Paulson & CO. Inc. acquired a new stake in shares of Perpetua Resources during the second quarter worth $671,530,000. BlackRock Inc. bought a new stake in Perpetua Resources in the 2nd quarter valued at $110,181,000. Amundi boosted its stake in Perpetua Resources by 37.3% in the 1st quarter. Amundi now owns 1,384,758 shares of the company’s stock worth $38,939,000 after purchasing an additional 375,962 shares during the period. Alyeska Investment Group L.P. boosted its stake in Perpetua Resources by 363.4% in the 2nd quarter. Alyeska Investment Group L.P. now owns 1,099,408 shares of the company’s stock worth $22,824,000 after purchasing an additional 862,143 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Perpetua Resources during the 2nd quarter worth about $15,128,000. Institutional investors and hedge funds own 70.07% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have issued reports on PPTA shares. Zacks Research downgraded Perpetua Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 15th. B. Riley Financial began coverage on Perpetua Resources in a research report on Monday, August 3rd. They set a “buy” rating and a $30.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a report on Thursday, October 15th. HC Wainwright reiterated a “buy” rating and set a $43.50 price objective on shares of Perpetua Resources in a report on Wednesday, September 30th. Finally, Scotiabank began coverage on Perpetua Resources in a research report on Tuesday, September 1st. They issued a “sector outperform” rating on the stock. Three analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Perpetua Resources presently has a consensus rating of “Hold” and a consensus price target of $36.75.
Get Our Latest Analysis on Perpetua Resources
Perpetua Resources Trading Down 2.0%
Shares of PPTA opened at $18.94 on Thursday. Perpetua Resources Corp. has a 12 month low of $15.66 and a 12 month high of $37.37. The firm has a fifty day simple moving average of $20.59 and a 200 day simple moving average of $24.97. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of -9.38 and a beta of 0.24.
Perpetua Resources (NASDAQ:PPTA – Get Free Report) last released its earnings results on Friday, August 14th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.59). During the same quarter last year, the company earned $0.08 EPS. As a group, research analysts predict that Perpetua Resources Corp. will post -2.16 earnings per share for the current fiscal year.
Perpetua Resources Profile
Perpetua Resources Corp. is a mineral development company focused on advancing the Stibnite Gold Project in central Idaho. The project is designed to produce gold and antimony, a critical mineral used in defense applications, energy technologies, flame retardants and other industrial products. The company is pursuing the project through its U.S. subsidiary, Stibnite Gold Project LLC. The Stibnite Gold Project is located in the historic Stibnite-Yellow Pine mining district. Perpetua’s activities include permitting, engineering, environmental studies and project development, as well as planning for the restoration of legacy environmental impacts associated with earlier mining in the area.
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