Rhumbline Advisers Raises Stake in Perpetua Resources Corp. $PPTA

Rhumbline Advisers raised its position in shares of Perpetua Resources Corp. (NASDAQ:PPTA) by 6.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,688 shares of the company’s stock after purchasing an additional 3,672 shares during the quarter. Rhumbline Advisers owned 0.09% of Perpetua Resources worth $692,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Sprott Inc. lifted its holdings in Perpetua Resources by 15.5% during the first quarter. Sprott Inc. now owns 3,395,395 shares of the company’s stock valued at $36,297,000 after purchasing an additional 456,524 shares in the last quarter. Encompass Capital Advisors LLC bought a new stake in shares of Perpetua Resources during the first quarter valued at approximately $15,745,000. Millennium Management LLC raised its position in shares of Perpetua Resources by 219.0% during the first quarter. Millennium Management LLC now owns 1,181,899 shares of the company’s stock valued at $12,634,000 after buying an additional 811,363 shares during the last quarter. Amundi raised its position in shares of Perpetua Resources by 39.4% during the first quarter. Amundi now owns 1,017,573 shares of the company’s stock valued at $11,397,000 after buying an additional 287,664 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of Perpetua Resources during the first quarter valued at approximately $2,734,000. Hedge funds and other institutional investors own 70.07% of the company’s stock.

Wall Street Analyst Weigh In

PPTA has been the topic of several recent analyst reports. HC Wainwright lifted their price objective on shares of Perpetua Resources from $27.50 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 15th. National Bankshares restated an “outperform” rating on shares of Perpetua Resources in a research report on Wednesday, June 18th. Wall Street Zen upgraded shares of Perpetua Resources from a “sell” rating to a “hold” rating in a research report on Saturday. B. Riley boosted their price target on shares of Perpetua Resources from $17.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Finally, Royal Bank Of Canada assumed coverage on shares of Perpetua Resources in a research report on Friday, July 18th. They issued an “outperform” rating and a $23.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $23.75.

Insider Transactions at Perpetua Resources

In other Perpetua Resources news, insider Michael Stephen Wright sold 10,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $18.31, for a total transaction of $183,100.00. Following the transaction, the insider directly owned 14,195 shares in the company, valued at $259,910.45. This represents a 41.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by insiders.

Perpetua Resources Trading Up 5.2%

NASDAQ PPTA opened at $18.31 on Monday. The company’s 50-day moving average price is $17.15 and its 200-day moving average price is $14.31. The stock has a market cap of $1.97 billion and a PE ratio of -59.06. Perpetua Resources Corp. has a 12 month low of $7.81 and a 12 month high of $19.75.

Perpetua Resources (NASDAQ:PPTA) last issued its earnings results on Wednesday, August 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.06. As a group, sell-side analysts forecast that Perpetua Resources Corp. will post -0.21 earnings per share for the current 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.