FNY Investment Advisers LLC Reduces Stock Position in Perpetua Resources Corp. $PPTA

FNY Investment Advisers LLC cut its position in Perpetua Resources Corp. (NASDAQ:PPTA) by 97.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,000 shares of the company’s stock after selling 112,800 shares during the period. FNY Investment Advisers LLC’s holdings in Perpetua Resources were worth $60,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of PPTA. Cantor Fitzgerald L. P. raised its position in Perpetua Resources by 196.5% during the 3rd quarter. Cantor Fitzgerald L. P. now owns 50,700 shares of the company’s stock worth $1,026,000 after buying an additional 33,600 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Perpetua Resources by 52,805.0% in the third quarter. NewEdge Advisors LLC now owns 52,905 shares of the company’s stock worth $1,070,000 after acquiring an additional 52,805 shares during the period. Worth Venture Partners LLC raised its holdings in shares of Perpetua Resources by 48.6% during the third quarter. Worth Venture Partners LLC now owns 26,000 shares of the company’s stock worth $526,000 after purchasing an additional 8,500 shares during the last quarter. Alyeska Investment Group L.P. lifted its position in Perpetua Resources by 40.4% during the third quarter. Alyeska Investment Group L.P. now owns 4,581,234 shares of the company’s stock valued at $92,678,000 after purchasing an additional 1,318,008 shares during the period. Finally, Quarry LP acquired a new position in Perpetua Resources during the third quarter valued at $702,000. 70.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Perpetua Resources

In other news, insider Mckinsey Margaret Lyon sold 43,722 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $27.57, for a total transaction of $1,205,415.54. Following the completion of the sale, the insider owned 132,110 shares of the company’s stock, valued at $3,642,272.70. The trade was a 24.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey L. Malmen sold 10,181 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $26.34, for a total transaction of $268,167.54. Following the transaction, the director owned 19,319 shares of the company’s stock, valued at approximately $508,862.46. This trade represents a 34.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 121,739 shares of company stock valued at $3,289,604. 1.50% of the stock is currently owned by company insiders.

Perpetua Resources Price Performance

Perpetua Resources stock opened at $24.99 on Friday. The stock has a market capitalization of $3.12 billion, a PE ratio of -49.98 and a beta of -0.03. The business has a 50 day simple moving average of $31.12 and a 200-day simple moving average of $26.16. Perpetua Resources Corp. has a 12 month low of $8.84 and a 12 month high of $37.37.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. B. Riley Financial increased their price target on Perpetua Resources from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday. HC Wainwright boosted their price objective on Perpetua Resources from $30.00 to $41.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Perpetua Resources in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $35.00.

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.