Perpetua Resources Sees Unusually High Options Volume (NASDAQ:PPTA)

Perpetua Resources Corp. (NASDAQ:PPTA) was the target of some unusual options trading on Monday. Investors bought 7,524 call options on the stock. This is an increase of approximately 1,104% compared to the average daily volume of 625 call options.

Perpetua Resources Trading Down 2.0 %

PPTA stock opened at $12.51 on Wednesday. The stock’s 50 day simple moving average is $10.67 and its 200 day simple moving average is $8.82. Perpetua Resources has a 12-month low of $2.69 and a 12-month high of $13.23. The stock has a market capitalization of $877.86 million, a PE ratio of -56.86 and a beta of 0.19.

Insider Buying and Selling at Perpetua Resources

In related news, insider Alan Douglas Haslam sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $10.07, for a total value of $402,800.00. Following the sale, the insider now owns 65,571 shares in the company, valued at $660,299.97. This represents a 37.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp lifted its holdings in Perpetua Resources by 8.8% in the third quarter. State Street Corp now owns 593,502 shares of the company’s stock valued at $5,549,000 after acquiring an additional 48,220 shares during the period. Jane Street Group LLC increased its position in shares of Perpetua Resources by 4.3% during the 3rd quarter. Jane Street Group LLC now owns 63,527 shares of the company’s stock valued at $597,000 after purchasing an additional 2,605 shares during the last quarter. Fourth Sail Capital LP bought a new position in shares of Perpetua Resources in the 3rd quarter worth approximately $10,405,000. Herr Investment Group LLC lifted its stake 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 during the period. Finally, Barclays PLC boosted its holdings in shares of Perpetua Resources by 63.4% in 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 during the last quarter. 70.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. HC Wainwright increased their target price on Perpetua Resources from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday. Roth Mkm raised their price objective on shares of Perpetua Resources from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday.

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.