Short Interest in Perpetua Resources Corp. (NASDAQ:PPTA) Rises By 30.4%

Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 4,380,000 shares, a growth of 30.4% from the March 15th total of 3,360,000 shares. Currently, 6.2% of the company's stock are sold short. Based on an average daily volume of 986,400 shares, the days-to-cover ratio is currently 4.4 days.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. National Bankshares restated an "outperform" rating on shares of Perpetua Resources in a report on Wednesday, April 2nd. National Bank Financial raised shares of Perpetua Resources to a "strong-buy" rating in a research note on Friday, March 21st. HC Wainwright raised their target price on shares of Perpetua Resources from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Friday, March 21st. Finally, Roth Mkm increased 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 Down 1.5 %

Shares of Perpetua Resources stock traded down $0.20 during trading on Friday, hitting $13.15. 744,771 shares of the stock were exchanged, compared to its average volume of 580,018. Perpetua Resources has a 1-year low of $4.96 and a 1-year high of $13.81. The stock has a market capitalization of $928.51 million, a price-to-earnings ratio of -59.77 and a beta of 0.12. The company has a fifty day moving average price of $10.27 and a 200-day moving average price of $10.61.

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

Insider Activity

In related news, insider Mckinsey Margaret Lyon sold 20,000 shares of the company's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $11.00, for a total value of $220,000.00. Following the completion of the transaction, the insider now directly owns 89,154 shares in the company, valued at approximately $980,694. This represents a 18.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alan Douglas Haslam sold 10,400 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $9.24, for a total value of $96,096.00. Following the completion of the sale, the insider now owns 65,763 shares in the company, valued at approximately $607,650.12. This represents a 13.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 20,230 shares of company stock worth $166,582 and have sold 53,110 shares worth $516,398. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Perpetua Resources

Several large investors have recently modified their holdings of the stock. State Street Corp grew its stake in Perpetua Resources by 8.8% in the 3rd quarter. State Street Corp now owns 593,502 shares of the company's stock valued at $5,549,000 after buying an additional 48,220 shares during the last quarter. Jane Street Group LLC increased its position in Perpetua Resources by 4.3% during the 3rd quarter. Jane Street Group LLC now owns 63,527 shares of the company's stock worth $597,000 after buying an additional 2,605 shares during the period. Barclays PLC lifted its holdings in shares of Perpetua Resources by 63.4% during the third quarter. Barclays PLC now owns 74,119 shares of the company's stock worth $694,000 after buying an additional 28,746 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Perpetua Resources by 0.5% in the third quarter. Geode Capital Management LLC now owns 484,829 shares of the company's stock valued at $4,533,000 after acquiring an additional 2,252 shares during the period. Finally, Virtu Financial LLC increased its position in Perpetua Resources by 43.6% during the third quarter. Virtu Financial LLC now owns 34,478 shares of the company's stock worth $322,000 after acquiring an additional 10,463 shares during the period. 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.

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