Short Interest in Perpetua Resources Corp. (NASDAQ:PPTA) Rises By 29.4%

Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 2,290,000 shares, an increase of 29.4% from the November 30th total of 1,770,000 shares. Approximately 3.3% of the shares of the company are short sold. Based on an average daily volume of 638,400 shares, the days-to-cover ratio is presently 3.6 days.

Insider Activity at Perpetua Resources

In other news, insider Alan Douglas Haslam sold 40,000 shares of the firm's stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $10.07, for a total value of $402,800.00. Following the completion of the transaction, the insider now directly owns 65,571 shares in the company, valued at approximately $660,299.97. This trade represents a 37.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Perpetua Resources

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp grew its position in Perpetua Resources by 8.8% in the third quarter. State Street Corp now owns 593,502 shares of the company's stock worth $5,549,000 after acquiring an additional 48,220 shares in the last quarter. Fourth Sail Capital LP bought a new stake in Perpetua Resources during the third quarter worth about $10,405,000. Herr Investment Group LLC boosted its holdings in shares of Perpetua Resources by 5.8% in the 2nd quarter. Herr Investment Group LLC now owns 1,450,498 shares of the company's stock worth $7,543,000 after purchasing an additional 80,000 shares in the last quarter. American Century Companies Inc. bought a new position in shares of Perpetua Resources during the 2nd quarter valued at about $124,000. Finally, Marshall Wace LLP purchased a new position in shares of Perpetua Resources during the 2nd quarter valued at about $197,000. Hedge funds and other institutional investors own 70.07% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on PPTA shares. Roth Mkm reissued a "buy" rating and issued a $15.00 price target on shares of Perpetua Resources in a report on Thursday, December 12th. National Bank Financial began coverage on Perpetua Resources in a research note on Friday, September 6th. They set an "outperform" rating for the company. Finally, HC Wainwright upped their target price on Perpetua Resources from $13.25 to $22.00 and gave the stock a "buy" rating in a research note on Friday, November 15th.

Perpetua Resources Stock Performance

PPTA traded down $0.01 on Friday, reaching $11.20. The company had a trading volume of 582,486 shares, compared to its average volume of 338,512. Perpetua Resources has a 52-week low of $2.69 and a 52-week high of $13.18. The company has a market cap of $785.94 million, a price-to-earnings ratio of -50.91 and a beta of 0.22. The business has a 50 day simple moving average of $10.51 and a 200 day simple moving average of $8.59.

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.