Alps Advisors Inc. Reduces Holdings in Perpetua Resources Corp. $PPTA

Alps Advisors Inc. cut its position in shares of Perpetua Resources Corp. (NASDAQ:PPTA) by 19.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 88,246 shares of the company’s stock after selling 21,500 shares during the period. Alps Advisors Inc.’s holdings in Perpetua Resources were worth $1,785,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Monaco Asset Management SAM bought a new stake in Perpetua Resources in the second quarter worth $12,662,000. Y Intercept Hong Kong Ltd boosted its holdings in shares of Perpetua Resources by 73.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 101,353 shares of the company’s stock valued at $2,050,000 after acquiring an additional 43,086 shares during the last quarter. Benjamin Edwards Inc. bought a new stake in Perpetua Resources in the 3rd quarter worth approximately $2,066,000. Worth Venture Partners LLC purchased a new stake in Perpetua Resources during the second quarter valued at $212,000. Finally, CIBC Asset Management Inc bought a new position in shares of Perpetua Resources in the 3rd quarter worth approximately $1,239,000. Institutional investors own 70.07% of the company’s stock.

Insider Buying and Selling

In other Perpetua Resources news, insider Mckinsey Margaret Lyon sold 32,490 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $26.61, for a total value of $864,558.90. Following the sale, the insider owned 96,664 shares in the company, valued at approximately $2,572,229.04. This represents a 25.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert Alan Dean sold 6,490 shares of the stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $27.55, for a total transaction of $178,799.50. Following the sale, the director directly owned 23,510 shares in the company, valued at $647,700.50. This trade represents a 21.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 78,017 shares of company stock valued at $2,084,188. Insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on PPTA. Zacks Research raised Perpetua Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a report on Thursday, January 22nd. B. Riley Financial reissued a “buy” rating on shares of Perpetua Resources in a report on Thursday, October 30th. Roth Mkm set a $32.00 target price on Perpetua Resources and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Finally, HC Wainwright increased their price target on shares of Perpetua Resources from $30.00 to $41.00 and gave the company a “buy” rating in a report on Thursday, February 5th. 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $32.50.

Perpetua Resources Trading Down 2.4%

NASDAQ PPTA opened at $29.58 on Wednesday. The firm’s fifty day simple moving average is $28.56 and its two-hundred day simple moving average is $23.48. Perpetua Resources Corp. has a 12-month low of $7.81 and a 12-month high of $35.97. The firm has a market capitalization of $3.67 billion, a P/E ratio of -59.16 and a beta of 0.03.

Perpetua Resources (NASDAQ:PPTA) last posted its quarterly earnings results 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). As a group, sell-side analysts predict that Perpetua Resources Corp. will post -0.21 earnings per share for the current fiscal year.

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.