GAMMA Investing LLC Increases Position in Perpetua Resources Corp. (NASDAQ:PPTA)

GAMMA Investing LLC lifted its position in Perpetua Resources Corp. (NASDAQ:PPTA) by 1,658.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,308 shares of the company’s stock after purchasing an additional 4,063 shares during the period. GAMMA Investing LLC’s holdings in Perpetua Resources were worth $46,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ProShare Advisors LLC purchased a new stake in shares of Perpetua Resources in the fourth quarter worth $116,000. BNP Paribas Financial Markets purchased a new stake in shares of Perpetua Resources in the fourth quarter worth $55,000. Raymond James Financial Inc. purchased a new stake in shares of Perpetua Resources in the fourth quarter worth $280,000. The Manufacturers Life Insurance Company increased its stake in shares of Perpetua Resources by 387.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 67,483 shares of the company’s stock worth $720,000 after purchasing an additional 53,634 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Perpetua Resources by 64.0% in the fourth quarter. Deutsche Bank AG now owns 30,891 shares of the company’s stock worth $330,000 after purchasing an additional 12,060 shares in the last quarter. 70.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PPTA shares. HC Wainwright reaffirmed a “buy” rating and set a $27.50 target price on shares of Perpetua Resources in a research note on Tuesday, June 17th. National Bankshares reaffirmed an “outperform” rating on shares of Perpetua Resources in a research note on Wednesday, June 18th. B. Riley reaffirmed a “buy” rating and set a $17.00 target price (up from $16.00) on shares of Perpetua Resources in a research note on Wednesday, June 18th. Finally, National Bank Financial raised shares of Perpetua Resources to a “strong-buy” rating in a research note on Friday, March 21st. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Perpetua Resources presently has an average rating of “Buy” and a consensus price target of $21.17.

Perpetua Resources Stock Down 1.0%

PPTA stock opened at $12.89 on Friday. Perpetua Resources Corp. has a 52 week low of $5.01 and a 52 week high of $17.96. The company has a fifty day simple moving average of $14.07 and a two-hundred day simple moving average of $12.05. The firm has a market capitalization of $922.15 million, a P/E ratio of -44.45 and a beta of 0.02.

Perpetua Resources (NASDAQ:PPTA) last released its quarterly earnings data on Friday, May 9th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.07). As a group, analysts anticipate that Perpetua Resources Corp. will post -0.21 EPS for the current year.

Insider Buying and Selling at Perpetua Resources

In other news, insider Michael Stephen Wright sold 6,500 shares of the firm’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $13.85, for a total value of $90,025.00. Following the completion of the sale, the insider now owns 14,195 shares in the company, valued at approximately $196,600.75. This trade represents a 31.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Paulson & Co. Inc. bought 7,575,757 shares of the stock in a transaction dated Monday, June 16th. The stock was purchased at an average price of $13.20 per share, with a total value of $99,999,992.40. Following the acquisition, the insider now directly owns 32,347,299 shares in the company, valued at approximately $426,984,346.80. The trade was a 30.58% increase in their position. The disclosure for this purchase can be found here. 1.50% of the stock is owned by company insiders.

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.