CIBC Asset Management Inc Buys New Position in Perpetua Resources Corp. $PPTA

CIBC Asset Management Inc purchased a new position in shares of Perpetua Resources Corp. (NASDAQ:PPTA) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 61,303 shares of the company’s stock, valued at approximately $1,239,000. CIBC Asset Management Inc owned approximately 0.06% of Perpetua Resources at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC acquired a new position in shares of Perpetua Resources during the second quarter valued at approximately $31,000. Private Trust Co. NA acquired a new position in shares of Perpetua Resources during the 3rd quarter valued at $35,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Perpetua Resources during the 2nd quarter valued at $39,000. Farther Finance Advisors LLC bought a new stake in shares of Perpetua Resources in the 3rd quarter worth $52,000. Finally, Harbor Investment Advisory LLC lifted its holdings in shares of Perpetua Resources by 519.6% in the third quarter. Harbor Investment Advisory LLC now owns 3,098 shares of the company’s stock valued at $63,000 after buying an additional 2,598 shares during the period. 70.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PPTA has been the topic of a number of research analyst reports. BMO Capital Markets set a $44.00 target price on Perpetua Resources in a report on Tuesday, October 28th. B. Riley reaffirmed a “buy” rating on shares of Perpetua Resources in a research note on Thursday, October 30th. Zacks Research upgraded shares of Perpetua Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Wall Street Zen cut shares of Perpetua Resources from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Finally, UBS Group set a $30.00 price objective on Perpetua Resources in a research report on Thursday, October 9th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $30.67.

Insiders Place Their Bets

In other news, 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 value of $268,167.54. Following the transaction, the director owned 19,319 shares in the company, valued at $508,862.46. This represents a 34.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mckinsey Margaret Lyon sold 32,490 shares of the stock in a transaction that occurred on 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 sale, the insider directly owned 96,664 shares of the company’s stock, valued at $2,572,229.04. This trade represents a 25.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 78,017 shares of company stock worth $2,084,188. 1.90% of the stock is owned by corporate insiders.

Perpetua Resources Price Performance

PPTA stock opened at $34.37 on Thursday. Perpetua Resources Corp. has a 52-week low of $7.81 and a 52-week high of $35.97. The company’s 50 day simple moving average is $27.77 and its 200-day simple moving average is $22.65. The firm has a market capitalization of $4.27 billion, a P/E ratio of -68.74 and a beta of 0.03.

Perpetua Resources (NASDAQ:PPTA) last posted its quarterly earnings data 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). Sell-side analysts predict that Perpetua Resources Corp. will post -0.21 EPS for the current fiscal year.

Perpetua Resources Company 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.