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

Perpetua Resources Corp. (NASDAQ:PPTA) saw unusually large options trading activity on Thursday. Stock traders purchased 4,077 call options on the company. This is an increase of approximately 221% compared to the average volume of 1,270 call options.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PPTA. HC Wainwright decreased their price target on shares of Perpetua Resources from $28.00 to $27.50 and set a “buy” rating for the company in a research note on Tuesday, May 13th. National Bank Financial raised shares of Perpetua Resources to a “strong-buy” rating in a report on Friday, March 21st. Finally, National Bankshares reiterated an “outperform” rating on shares of Perpetua Resources in a research note on Wednesday, April 2nd.

Perpetua Resources Trading Down 2.1%

Perpetua Resources stock opened at $12.84 on Friday. Perpetua Resources has a 1-year low of $5.01 and a 1-year high of $17.96. The firm has a market capitalization of $918.61 million, a price-to-earnings ratio of -58.36 and a beta of 0.02. The firm has a 50 day simple moving average of $13.86 and a 200 day simple moving average of $11.89.

Perpetua Resources (NASDAQ:PPTA) last released its quarterly earnings data on Friday, May 9th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.07). On average, equities research analysts forecast that Perpetua Resources will post -0.21 EPS for the current year.

Insider Transactions at Perpetua Resources

In other news, insider Mckinsey Margaret Lyon sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $11.00, for a total transaction of $220,000.00. Following the completion of the sale, the insider now owns 89,154 shares in the company, valued at $980,694. This trade represents a 18.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Stephen Wright sold 6,500 shares of the firm’s stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $13.85, for a total transaction of $90,025.00. Following the sale, the insider now owns 14,195 shares of the company’s stock, valued at approximately $196,600.75. The trade was a 31.41% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Perpetua Resources

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ancora Advisors LLC bought a new position in shares of Perpetua Resources during the fourth quarter valued at approximately $37,000. GAMMA Investing LLC grew its holdings in shares of Perpetua Resources by 1,658.4% during the first quarter. GAMMA Investing LLC now owns 4,308 shares of the company’s stock valued at $46,000 after buying an additional 4,063 shares during the last quarter. North Capital Inc. purchased a new stake in shares of Perpetua Resources during the first quarter valued at approximately $53,000. BNP Paribas Financial Markets purchased a new stake in shares of Perpetua Resources during the fourth quarter valued at approximately $55,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Perpetua Resources during the first quarter valued at approximately $76,000. Hedge funds and other institutional investors own 70.07% of the company’s stock.

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.