Arrien Investments Inc. Trims Stock Position in Perpetua Resources Corp. $PPTA

Arrien Investments Inc. lowered its position in shares of Perpetua Resources Corp. (NASDAQ:PPTA) by 51.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,358 shares of the company’s stock after selling 24,732 shares during the period. Perpetua Resources accounts for about 0.3% of Arrien Investments Inc.’s holdings, making the stock its 26th biggest position. Arrien Investments Inc.’s holdings in Perpetua Resources were worth $565,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Alyeska Investment Group L.P. grew its stake 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 acquiring an additional 1,318,008 shares in the last quarter. Vanguard Group Inc. grew its stake in Perpetua Resources by 65.1% in the 4th quarter. Vanguard Group Inc. now owns 3,157,670 shares of the company’s stock worth $76,447,000 after buying an additional 1,245,630 shares in the last quarter. Van ECK Associates Corp grew its stake in Perpetua Resources by 53.4% in the 3rd quarter. Van ECK Associates Corp now owns 2,840,546 shares of the company’s stock worth $57,464,000 after buying an additional 989,090 shares in the last quarter. Millennium Management LLC grew its stake in Perpetua Resources by 219.0% in the 1st quarter. Millennium Management LLC now owns 1,181,899 shares of the company’s stock worth $12,634,000 after buying an additional 811,363 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in Perpetua Resources in the 4th quarter worth approximately $19,426,000. Hedge funds and other institutional investors own 70.07% of the company’s stock.

Insider Buying and Selling

In other Perpetua Resources news, insider Jonathan Cherry sold 4,079 shares of Perpetua Resources stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $29.31, for a total value of $119,555.49. Following the transaction, the insider directly owned 44,895 shares of the company’s stock, valued at $1,315,872.45. The trade was a 8.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mckinsey Margaret Lyon sold 43,722 shares of the company’s stock in a transaction on 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 sale, the insider owned 132,110 shares of the company’s stock, valued at $3,642,272.70. This represents a 24.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 56,500 shares of company stock worth $1,581,853 over the last ninety days. Insiders own 1.90% of the company’s stock.

Perpetua Resources Stock Performance

Shares of Perpetua Resources stock opened at $28.47 on Tuesday. Perpetua Resources Corp. has a 52-week low of $11.22 and a 52-week high of $37.37. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of -27.11 and a beta of 0.15. The company has a fifty day moving average of $30.32 and a 200-day moving average of $27.99.

Perpetua Resources (NASDAQ:PPTA) last announced its quarterly earnings results on Tuesday, March 31st. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.60). On average, equities research analysts forecast that Perpetua Resources Corp. will post -1.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PPTA. Zacks Research cut shares of Perpetua Resources from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 8th. HC Wainwright reissued a “buy” rating and issued a $41.00 price target on shares of Perpetua Resources in a research note on Wednesday, April 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a research note on Tuesday, April 21st. Finally, B. Riley Financial boosted their price target on shares of Perpetua Resources from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Six research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

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.