Citigroup Inc. Buys 129,594 Shares of Perpetua Resources Corp. $PPTA

Citigroup Inc. boosted its stake in Perpetua Resources Corp. (NASDAQ:PPTA) by 462.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 157,599 shares of the company’s stock after purchasing an additional 129,594 shares during the period. Citigroup Inc. owned approximately 0.13% of Perpetua Resources worth $3,190,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PPTA. Steward Partners Investment Advisory LLC bought a new position in shares of Perpetua Resources during the 2nd quarter valued at $31,000. Private Trust Co. NA purchased a new position in Perpetua Resources in the third quarter worth about $35,000. Farther Finance Advisors LLC bought a new stake in shares of Perpetua Resources during the 3rd quarter valued at about $52,000. Jones Financial Companies Lllp increased its position in shares of Perpetua Resources by 50.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,751 shares of the company’s stock valued at $58,000 after purchasing an additional 925 shares during the last quarter. Finally, Harbor Investment Advisory LLC lifted its stake in shares of Perpetua Resources by 519.6% in the 3rd quarter. Harbor Investment Advisory LLC now owns 3,098 shares of the company’s stock worth $63,000 after purchasing an additional 2,598 shares during the period. 70.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PPTA. HC Wainwright boosted their target price on shares of Perpetua Resources from $30.00 to $41.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Perpetua Resources has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.

Perpetua Resources Price Performance

Shares of NASDAQ:PPTA opened at $32.41 on Friday. The company has a market capitalization of $4.04 billion, a P/E ratio of -64.82 and a beta of -0.03. Perpetua Resources Corp. has a 1-year low of $8.06 and a 1-year high of $37.37. The firm’s 50 day simple moving average is $30.27 and its two-hundred day simple moving average is $25.17.

Insider Activity

In other Perpetua Resources news, Director Jeffrey L. Malmen sold 10,181 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $26.34, for a total value of $268,167.54. Following the completion of the sale, the director owned 19,319 shares in the company, valued at approximately $508,862.46. This represents a 34.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Alexander Mcleod Sternhell sold 10,148 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $26.50, for a total value of $268,922.00. Following the completion of the transaction, the director owned 19,352 shares in the company, valued at $512,828. The trade was a 34.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 121,739 shares of company stock worth $3,289,604. 1.50% of the stock is currently owned by corporate insiders.

About Perpetua Resources

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.