Perpetua Resources Corp. (NASDAQ:PPTA) Sees Large Drop in Short Interest

Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) saw a large drop in short interest in January. As of January 15th, there was short interest totalling 1,980,000 shares, a drop of 13.5% from the December 31st total of 2,290,000 shares. Based on an average daily trading volume, of 671,500 shares, the short-interest ratio is currently 2.9 days. Approximately 2.8% of the company's stock are sold short.

Institutional Trading of Perpetua Resources

Institutional investors and hedge funds have recently modified their holdings of the business. 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 worth $44,000 after purchasing an additional 4,000 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Perpetua Resources in the 3rd quarter worth $98,000. Quantbot Technologies LP bought a new stake in shares of Perpetua Resources in the 3rd quarter worth $123,000. American Century Companies Inc. bought a new stake in shares of Perpetua Resources in the 2nd quarter worth $124,000. Finally, SG Americas Securities LLC bought a new stake in shares of Perpetua Resources in the 3rd quarter worth $125,000. Institutional investors own 70.07% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PPTA. Roth Mkm raised their price objective on Perpetua Resources from $15.00 to $19.00 and gave the company a "buy" rating in a research report on Tuesday, January 7th. HC Wainwright raised their price objective on Perpetua Resources from $22.00 to $25.00 and gave the company a "buy" rating in a research report on Tuesday, January 7th.

Perpetua Resources Price Performance

PPTA stock traded down $0.09 on Friday, reaching $12.06. 528,560 shares of the company traded hands, compared to its average volume of 790,714. Perpetua Resources has a one year low of $2.69 and a one year high of $13.23. The company has a market cap of $847.46 million, a P/E ratio of -54.82 and a beta of 0.20. The firm has a fifty day simple moving average of $11.66 and a 200-day simple moving average of $9.73.

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.