Perpetua Resources (NASDAQ:PPTA) Shares Up 8.7% - Still a Buy?

Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) traded up 8.7% during mid-day trading on Tuesday . The company traded as high as $9.85 and last traded at $9.76. 141,426 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 547,471 shares. The stock had previously closed at $8.98.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. National Bankshares reissued an "outperform" rating on shares of Perpetua Resources in a report on Wednesday, April 2nd. HC Wainwright boosted their price objective on shares of Perpetua Resources from $25.00 to $28.00 and gave the stock a "buy" rating in a research note on Friday, March 21st. National Bank Financial raised Perpetua Resources to a "strong-buy" rating in a research report on Friday, March 21st. Finally, Roth Mkm upped their price target on Perpetua Resources from $15.00 to $19.00 and gave the company a "buy" rating in a research report on Tuesday, January 7th.

Perpetua Resources Trading Up 6.5 %

The stock's 50-day moving average price is $10.14 and its 200-day moving average price is $10.49. The stock has a market cap of $835.30 million, a price-to-earnings ratio of -53.77 and a beta of 0.12.

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

Insider Activity

In related news, Director Richie Darrin Haddock purchased 5,780 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was purchased at an average cost of $8.56 per share, with a total value of $49,476.80. Following the completion of the purchase, the director now owns 5,780 shares in the company, valued at approximately $49,476.80. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Alan Dean acquired 5,000 shares of the company's stock in a transaction dated Friday, February 21st. The shares were bought at an average price of $8.32 per share, for a total transaction of $41,600.00. Following the acquisition, the director now directly owns 10,000 shares of the company's stock, valued at approximately $83,200. This trade represents a 100.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 20,230 shares of company stock valued at $166,582 and have sold 53,110 shares valued at $516,398. 1.90% of the stock is owned by company insiders.

Institutional Trading of Perpetua Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PPTA. Ancora Advisors LLC acquired a new stake in Perpetua Resources in the fourth quarter valued at approximately $37,000. GAMMA Investing LLC grew its position in Perpetua Resources by 1,658.4% in the 1st 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 acquired a new stake in Perpetua Resources in the 4th quarter valued at $55,000. ProShare Advisors LLC bought a new stake in Perpetua Resources during the 4th quarter valued at $116,000. Finally, ExodusPoint Capital Management LP acquired a new position in Perpetua Resources during the fourth quarter worth $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.