Perpetua Resources (NASDAQ:PPTA) Shares Gap Up - Should You Buy?

Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $13.26, but opened at $13.70. Perpetua Resources shares last traded at $13.33, with a volume of 142,858 shares changing hands.

Analyst Upgrades and Downgrades

PPTA has been the topic of a number of research reports. HC Wainwright lifted their price target on shares of Perpetua Resources from $25.00 to $28.00 and gave the company a "buy" rating in a report on Friday, March 21st. Roth Mkm boosted their target price on Perpetua Resources from $15.00 to $19.00 and gave the company a "buy" rating in a research report on Tuesday, January 7th. National Bank Financial raised shares of Perpetua Resources to a "strong-buy" rating in a research note on Friday, March 21st. Finally, National Bankshares restated an "outperform" rating on shares of Perpetua Resources in a research note on Wednesday, April 2nd.

Perpetua Resources Trading Down 1.5 %

The firm has a market cap of $928.51 million, a price-to-earnings ratio of -59.77 and a beta of 0.12. The company has a fifty day moving average price of $10.27 and a 200-day moving average price of $10.62.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last released its quarterly earnings results on Wednesday, March 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.03. As a group, research analysts forecast that Perpetua Resources Corp. will post -0.21 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert Alan Dean bought 5,000 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were purchased at an average cost of $8.32 per share, with a total value of $41,600.00. Following the transaction, the director now directly owns 10,000 shares of the company's stock, valued at approximately $83,200. This represents a 100.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Alan Douglas Haslam sold 10,400 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $9.24, for a total value of $96,096.00. Following the completion of the sale, the insider now owns 65,763 shares of the company's stock, valued at approximately $607,650.12. This represents a 13.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 20,230 shares of company stock valued at $166,582 and have sold 53,110 shares valued at $516,398. Corporate insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On Perpetua Resources

Several institutional investors have recently bought and sold shares of PPTA. State Street Corp grew its holdings in Perpetua Resources by 8.8% during the 3rd quarter. State Street Corp now owns 593,502 shares of the company's stock valued at $5,549,000 after buying an additional 48,220 shares during the last quarter. Barclays PLC grew its stake in Perpetua Resources by 63.4% during the third quarter. Barclays PLC now owns 74,119 shares of the company's stock worth $694,000 after buying an additional 28,746 shares during the period. JPMorgan Chase & Co. increased its holdings in Perpetua Resources by 232.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 57,158 shares of the company's stock valued at $534,000 after purchasing an additional 39,954 shares in the last quarter. Ninety One UK Ltd purchased a new stake in shares of Perpetua Resources during the 4th quarter valued at about $1,693,000. Finally, Jane Street Group LLC increased its stake in Perpetua Resources by 4.3% during the 3rd quarter. Jane Street Group LLC now owns 63,527 shares of the company's stock worth $597,000 after buying an additional 2,605 shares during the period. 70.07% of the stock is owned by institutional investors and hedge funds.

About Perpetua Resources

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.