Intech Investment Management LLC Boosts Position in Perpetua Resources Corp. $PPTA

Intech Investment Management LLC raised its holdings in Perpetua Resources Corp. (NASDAQ:PPTA) by 71.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 27,394 shares of the company’s stock after acquiring an additional 11,383 shares during the period. Intech Investment Management LLC’s holdings in Perpetua Resources were worth $333,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning acquired a new position in Perpetua Resources during the 2nd quarter worth $134,000. Police & Firemen s Retirement System of New Jersey lifted its stake in Perpetua Resources by 24.1% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 9,610 shares of the company’s stock worth $117,000 after acquiring an additional 1,868 shares in the last quarter. Geode Capital Management LLC lifted its position in Perpetua Resources by 9.0% in the 2nd quarter. Geode Capital Management LLC now owns 617,032 shares of the company’s stock worth $7,489,000 after buying an additional 50,778 shares in the last quarter. Boston Partners purchased a new position in Perpetua Resources in the second quarter valued at about $2,053,000. Finally, Fourth Sail Capital LP bought a new position in Perpetua Resources during the second quarter valued at approximately $12,185,000. 70.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Perpetua Resources

In related news, insider Jonathan Cherry sold 14,911 shares of the firm’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $23.72, for a total transaction of $353,688.92. Following the completion of the transaction, the insider directly owned 36,249 shares of the company’s stock, valued at $859,826.28. This trade represents a 29.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Stephen Wright sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $18.31, for a total transaction of $183,100.00. Following the completion of the sale, the insider directly owned 14,195 shares in the company, valued at approximately $259,910.45. This represents a 41.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.90% of the stock is currently owned by corporate insiders.

Perpetua Resources Trading Up 3.7%

PPTA opened at $25.97 on Monday. The stock has a market cap of $3.16 billion, a PE ratio of -51.94 and a beta of 0.02. The stock’s fifty day simple moving average is $23.22 and its 200 day simple moving average is $18.30. Perpetua Resources Corp. has a 1-year low of $7.81 and a 1-year high of $31.65.

Perpetua Resources (NASDAQ:PPTA) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.23). Equities analysts forecast that Perpetua Resources Corp. will post -0.21 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on PPTA shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a report on Wednesday, October 8th. B. Riley reaffirmed a “buy” rating on shares of Perpetua Resources in a report on Thursday, October 30th. Wall Street Zen lowered Perpetua Resources from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. BMO Capital Markets set a $44.00 target price on shares of Perpetua Resources in a research note on Tuesday, October 28th. Finally, HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Perpetua Resources in a research report on Tuesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Perpetua Resources presently has an average rating of “Buy” and a consensus price target of $29.00.

Perpetua Resources 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.