Perpetua Resources (NASDAQ:PPTA) Trading 8.8% Higher – Time to Buy?

Perpetua Resources Corp. (NASDAQ:PPTA) traded up 8.8% during mid-day trading on Monday . The stock traded as high as $10.76 and last traded at $10.71. 243,870 shares changed hands 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.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Roth Mkm upped their price target on shares of 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 upped their price target on shares of 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

The company’s 50-day moving average price is $10.69 and its two-hundred day moving average price is $10.19. The company has a market capitalization of $727.47 million, a price-to-earnings ratio of -47.10 and a beta of 0.27.

Insider Transactions at Perpetua Resources

In other Perpetua Resources news, insider Mckinsey Margaret Lyon sold 22,710 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $8.82, for a total value of $200,302.20. Following the completion of the sale, the insider now directly owns 89,154 shares in the company, valued at approximately $786,338.28. This trade represents a 20.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Alan Dean purchased 5,000 shares of Perpetua Resources stock in a transaction on Friday, February 21st. The stock was bought at an average price of $8.32 per share, with a total value of $41,600.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $83,200. This trade represents a 100.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 20,230 shares of company stock worth $166,582 over the last three months. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Bank of Montreal Can lifted its stake in shares of Perpetua Resources by 1.6% in the fourth quarter. Bank of Montreal Can now owns 67,594 shares of the company’s stock valued at $721,000 after buying an additional 1,054 shares in the last quarter. Geode Capital Management LLC lifted its stake 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 buying an additional 2,252 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of Perpetua Resources by 4.3% in the third quarter. Jane Street Group LLC now owns 63,527 shares of the company’s stock valued at $597,000 after buying an additional 2,605 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Perpetua Resources by 24.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,722 shares of the company’s stock valued at $168,000 after buying an additional 3,067 shares in the last quarter. Finally, Lane & Associates LLC lifted its stake in shares of Perpetua Resources by 24.0% in the fourth quarter. Lane & Associates LLC now owns 15,987 shares of the company’s stock valued at $189,000 after buying an additional 3,095 shares in the last quarter. 70.07% of the stock is owned by institutional investors.

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.