Perpetua Resources (NASDAQ:PPTA) Shares Up 7.8% - Here's Why

Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report)'s share price rose 7.8% during trading on Monday . The stock traded as high as $12.60 and last traded at $12.75. Approximately 191,638 shares were traded during trading, a decline of 66% from the average daily volume of 559,736 shares. The stock had previously closed at $11.83.

Analyst Ratings Changes

A number of analysts have weighed in on PPTA shares. National Bankshares reiterated an "outperform" rating on shares of Perpetua Resources in a research report on Wednesday, April 2nd. Roth Mkm lifted their price target on shares of Perpetua Resources from $15.00 to $19.00 and gave the company a "buy" rating in a 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, HC Wainwright lifted their target price on shares of Perpetua Resources from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Friday, March 21st.

Perpetua Resources Stock Performance

The company's 50-day moving average is $10.27 and its 200-day moving average is $10.61. The firm has a market cap of $928.51 million, a price-to-earnings ratio of -59.77 and a beta of 0.12.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last posted its quarterly earnings data on Wednesday, March 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.03. On average, analysts predict that Perpetua Resources Corp. will post -0.21 EPS for the current year.

Insiders Place Their Bets

In other Perpetua Resources news, insider Mckinsey Margaret Lyon sold 20,000 shares of the stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $11.00, for a total transaction of $220,000.00. Following the completion of the transaction, the insider now owns 89,154 shares in the company, valued at approximately $980,694. This represents a 18.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Alan Dean bought 5,000 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was purchased at an average cost of $8.32 per share, for a total transaction of $41,600.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $83,200. The trade was a 100.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 20,230 shares of company stock worth $166,582 and have sold 53,110 shares worth $516,398. Company insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On Perpetua Resources

Institutional investors and hedge funds have recently modified their holdings of the company. Ancora Advisors LLC acquired a new position in shares of Perpetua Resources during the 4th quarter worth approximately $37,000. GAMMA Investing LLC raised its position in shares of Perpetua Resources by 1,658.4% in the first quarter. GAMMA Investing LLC now owns 4,308 shares of the company's stock valued at $46,000 after purchasing an additional 4,063 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of Perpetua Resources during the fourth quarter worth approximately $55,000. ProShare Advisors LLC bought a new position in shares of Perpetua Resources during the fourth quarter worth approximately $116,000. Finally, ExodusPoint Capital Management LP acquired a new stake in Perpetua Resources during the 4th quarter worth approximately $140,000. 70.07% of the stock is owned by institutional investors.

Perpetua Resources Company 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.