Fourth Sail Capital LP Takes Position in Perpetua Resources Corp. (NASDAQ:PPTA)

Fourth Sail Capital LP bought a new stake in Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,112,783 shares of the company's stock, valued at approximately $10,405,000. Perpetua Resources makes up approximately 2.6% of Fourth Sail Capital LP's investment portfolio, making the stock its 15th largest holding. Fourth Sail Capital LP owned about 1.67% of Perpetua Resources as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of PPTA. M&G Plc bought a new stake in shares of Perpetua Resources in the first quarter worth $805,000. Herr Investment Group LLC grew its stake in shares of Perpetua Resources by 5.8% in the second quarter. Herr Investment Group LLC now owns 1,450,498 shares of the company's stock worth $7,543,000 after purchasing an additional 80,000 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in Perpetua Resources during the 1st quarter worth approximately $51,000. Russell Investments Group Ltd. boosted its position in shares of Perpetua Resources by 1.6% during the 1st quarter. Russell Investments Group Ltd. now owns 581,600 shares of the company's stock valued at $2,419,000 after purchasing an additional 8,985 shares in the last quarter. Finally, American Century Companies Inc. bought a new stake in Perpetua Resources in the 2nd quarter valued at about $124,000. Institutional investors and hedge funds own 70.07% of the company's stock.

Perpetua Resources Stock Down 9.7 %

Shares of PPTA traded down $1.03 during trading hours on Monday, reaching $9.57. 1,470,186 shares of the company traded hands, compared to its average volume of 270,023. Perpetua Resources Corp. has a 12 month low of $2.69 and a 12 month high of $10.75. The company's fifty day moving average price is $9.43 and its two-hundred day moving average price is $7.59. The company has a market capitalization of $637.07 million, a price-to-earnings ratio of -43.50 and a beta of 0.27.

Wall Street Analyst Weigh In

PPTA has been the topic of a number of research analyst reports. National Bank Financial assumed coverage on Perpetua Resources in a research note on Friday, September 6th. They issued an "outperform" rating on the stock. HC Wainwright boosted their target price on shares of Perpetua Resources from $13.25 to $22.00 and gave the company a "buy" rating in a report on Friday. Finally, Roth Mkm upped their price target on shares of Perpetua Resources from $12.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd.

Insider Activity at Perpetua Resources

In related news, insider Alan Douglas Haslam sold 40,000 shares of the firm's stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $10.07, for a total value of $402,800.00. Following the transaction, the insider now owns 65,571 shares of the company's stock, valued at approximately $660,299.97. This trade represents a 37.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.90% of the stock is owned by corporate insiders.

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.