Stock Traders Purchase Large Volume of Call Options on Perpetua Resources (NASDAQ:PPTA)

Perpetua Resources Corp. (NASDAQ:PPTA) saw some unusual options trading activity on Friday. Investors acquired 8,030 call options on the company. This represents an increase of approximately 292% compared to the typical volume of 2,051 call options.

Insider Activity at Perpetua Resources

In other news, insider Michael Stephen Wright sold 6,500 shares of the business’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. The trade was a 31.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Paulson & Co. Inc. purchased 7,575,757 shares of Perpetua Resources stock in a transaction dated Monday, June 16th. The stock was acquired at an average price of $13.20 per share, with a total value of $99,999,992.40. Following the acquisition, the insider now owns 32,347,299 shares in the company, valued at approximately $426,984,346.80. This represents a 30.58% increase in their position. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PPTA. Ancora Advisors LLC purchased a new stake in Perpetua Resources during the 4th quarter worth approximately $37,000. GAMMA Investing LLC grew its position in Perpetua Resources by 1,658.4% during the 1st quarter. GAMMA Investing LLC now owns 4,308 shares of the company’s stock worth $46,000 after purchasing an additional 4,063 shares during the last quarter. North Capital Inc. purchased a new stake in Perpetua Resources during the 1st quarter worth approximately $53,000. BNP Paribas Financial Markets purchased a new stake in Perpetua Resources during the 4th quarter worth approximately $55,000. Finally, Quantbot Technologies LP purchased a new stake in Perpetua Resources during the 1st quarter worth approximately $76,000. Institutional investors own 70.07% of the company’s stock.

Analysts Set New Price Targets

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

Perpetua Resources Stock Down 8.0%

NASDAQ PPTA opened at $11.86 on Friday. The firm has a market cap of $1.14 billion, a PE ratio of -40.90 and a beta of 0.02. The company has a 50 day moving average price of $14.04 and a 200 day moving average price of $12.05. Perpetua Resources has a 52 week low of $5.01 and a 52 week high of $17.96.

Perpetua Resources (NASDAQ:PPTA) last posted 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). On average, equities research analysts anticipate that Perpetua Resources will post -0.21 earnings per share for the current fiscal year.

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.