Perpetua Resources Corp. $PPTA Position Trimmed by Alps Advisors Inc.

Alps Advisors Inc. reduced its stake in shares of Perpetua Resources Corp. (NASDAQ:PPTA) by 19.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 88,246 shares of the company’s stock after selling 21,500 shares during the period. Alps Advisors Inc. owned 0.07% of Perpetua Resources worth $1,785,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Monaco Asset Management SAM acquired a new position in shares of Perpetua Resources during the 2nd quarter worth about $12,662,000. Y Intercept Hong Kong Ltd boosted its stake in Perpetua Resources by 73.9% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 101,353 shares of the company’s stock worth $2,050,000 after purchasing an additional 43,086 shares during the period. Benjamin Edwards Inc. bought a new position in shares of Perpetua Resources during the third quarter worth about $2,066,000. Worth Venture Partners LLC bought a new position in shares of Perpetua Resources during the 2nd quarter worth approximately $212,000. Finally, CIBC Asset Management Inc acquired a new stake in Perpetua Resources in the 3rd quarter valued at $1,239,000. 70.07% of the stock is currently owned by institutional investors and hedge funds.

Perpetua Resources Price Performance

Shares of NASDAQ PPTA opened at $29.58 on Wednesday. The company has a 50-day moving average price of $28.56 and a 200-day moving average price of $23.48. The stock has a market capitalization of $3.67 billion, a P/E ratio of -59.16 and a beta of 0.03. Perpetua Resources Corp. has a 1 year low of $7.81 and a 1 year high of $35.97.

Perpetua Resources (NASDAQ:PPTA) last announced its earnings results on Friday, November 14th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.23). As a group, equities research analysts anticipate that Perpetua Resources Corp. will post -0.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wall Street Zen cut shares of Perpetua Resources from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Roth Mkm set a $32.00 price target on Perpetua Resources and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a report on Thursday, January 22nd. Zacks Research raised shares of Perpetua Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Finally, BMO Capital Markets set a $44.00 target price on Perpetua Resources in a report on Tuesday, October 28th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Perpetua Resources presently has a consensus rating of “Buy” and a consensus target price of $32.50.

Insider Buying and Selling

In other Perpetua Resources news, insider Mckinsey Margaret Lyon sold 32,490 shares of Perpetua Resources stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $26.61, for a total transaction of $864,558.90. Following the completion of the transaction, the insider owned 96,664 shares of the company’s stock, valued at $2,572,229.04. The trade was a 25.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Alan Dean sold 6,490 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $27.55, for a total value of $178,799.50. Following the transaction, the director owned 23,510 shares of the company’s stock, valued at approximately $647,700.50. The trade was a 21.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 78,017 shares of company stock valued at $2,084,188 over the last three months. Insiders own 1.90% of the company’s stock.

Perpetua Resources Profile

Perpetua Resources Inc (NASDAQ: PPTA), formerly known as eCobalt Solutions Inc, is a mineral exploration and development company focused on critical metals that support the global clean-energy transition. The company’s primary objective is to advance its flagship Idaho Cobalt Project, a permitted underground mine located near Stibnite, Idaho. This project is designed to produce cobalt, copper, gold and silver, with an emphasis on providing responsibly sourced materials to North American battery and technology markets.

In addition to its Idaho Cobalt Project, Perpetua Resources holds exploration licenses and mineral tenures across the United States and Canada.