Perpetua Resources (NASDAQ:PPTA) Shares Up 8.8% - Here's Why

Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) shares shot up 8.8% during trading on Monday . The company traded as high as $10.76 and last traded at $10.71. 243,870 shares were traded during mid-day trading, a decline of 49% from the average session volume of 479,809 shares. The stock had previously closed at $9.84.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PPTA shares. HC Wainwright boosted their target price on Perpetua Resources from $25.00 to $28.00 and gave the stock a "buy" rating in a research note on Friday. Roth Mkm upped their target price 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.

Perpetua Resources Trading Down 2.3 %

The firm has a market capitalization of $787.82 million, a PE ratio of -50.91 and a beta of 0.27. The company has a fifty day moving average price of $10.56 and a two-hundred day moving average price of $10.24.

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

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Insider Buying and Selling

In other Perpetua Resources news, insider Alan Douglas Haslam sold 10,400 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $9.24, for a total transaction of $96,096.00. Following the completion of the sale, the insider now directly owns 65,763 shares of the company's stock, valued at $607,650.12. This represents a 13.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mckinsey Margaret Lyon sold 22,710 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $8.82, for a total value of $200,302.20. Following the sale, the insider now directly owns 89,154 shares of the company's stock, valued at $786,338.28. The trade was a 20.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired a total of 20,230 shares of company stock worth $166,582 in the last 90 days. Company 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 the company. Ancora Advisors LLC purchased a new position in shares of Perpetua Resources during the 4th quarter worth approximately $37,000. Continuum Advisory LLC increased its holdings in shares of Perpetua Resources by 500.0% in the 3rd quarter. Continuum Advisory LLC now owns 4,800 shares of the company's stock valued at $44,000 after purchasing an additional 4,000 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in Perpetua Resources during the fourth quarter worth about $55,000. Intech Investment Management LLC acquired a new position in Perpetua Resources during the third quarter worth about $98,000. Finally, ProShare Advisors LLC purchased a new position in Perpetua Resources in the fourth quarter valued at about $116,000. 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.