Insider Selling: Perpetua Resources (NASDAQ:PPTA) Insider Sells $119,555.49 in Stock

Perpetua Resources Corp. (NASDAQ:PPTA) insider Jonathan Cherry sold 4,079 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $29.31, for a total transaction of $119,555.49. Following the sale, the insider owned 44,895 shares in the company, valued at $1,315,872.45. The trade was a 8.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Perpetua Resources Price Performance

Shares of PPTA opened at $29.43 on Friday. The company has a 50-day simple moving average of $30.05 and a 200-day simple moving average of $26.81. The company has a market capitalization of $3.67 billion, a PE ratio of -28.03 and a beta of 0.15. Perpetua Resources Corp. has a 52-week low of $8.84 and a 52-week high of $37.37.

Perpetua Resources (NASDAQ:PPTA) last released its quarterly earnings data 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, research analysts anticipate that Perpetua Resources Corp. will post -0.21 EPS for the current year.

Wall Street Analysts Forecast Growth

PPTA has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a research note on Thursday, January 22nd. B. Riley Financial lifted their price objective on Perpetua Resources from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Finally, HC Wainwright boosted their target price on Perpetua Resources from $30.00 to $41.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Hedge Funds Weigh In On Perpetua Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Purpose Unlimited Inc. purchased a new stake in shares of Perpetua Resources in the fourth quarter valued at about $1,798,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Perpetua Resources by 318.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 13,930 shares of the company’s stock worth $337,000 after purchasing an additional 10,601 shares in the last quarter. Invesco Ltd. raised its position in shares of Perpetua Resources by 3.6% during the 4th quarter. Invesco Ltd. now owns 49,849 shares of the company’s stock worth $1,207,000 after purchasing an additional 1,755 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Perpetua Resources by 59.3% during the 4th quarter. NewEdge Advisors LLC now owns 84,280 shares of the company’s stock worth $2,040,000 after purchasing an additional 31,375 shares during the last quarter. Finally, Yaupon Capital Management LP purchased a new stake in Perpetua Resources in the 4th quarter valued at approximately $4,612,000. Institutional investors and hedge funds own 70.07% of the company’s stock.

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.