Handelsbanken Fonder AB Buys Shares of 39,400 Perpetua Resources Corp. $PPTA

Handelsbanken Fonder AB bought a new stake in shares of Perpetua Resources Corp. (NASDAQ:PPTA) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 39,400 shares of the company’s stock, valued at approximately $954,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PPTA. Alyeska Investment Group L.P. increased its holdings 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 buying an additional 1,318,008 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Perpetua Resources by 65.1% during the 4th quarter. Vanguard Group Inc. now owns 3,157,670 shares of the company’s stock valued at $76,447,000 after acquiring an additional 1,245,630 shares during the period. Van ECK Associates Corp grew its stake in shares of Perpetua Resources by 53.4% during the 3rd quarter. Van ECK Associates Corp now owns 2,840,546 shares of the company’s stock valued at $57,464,000 after acquiring an additional 989,090 shares during the period. Millennium Management LLC grew its stake in shares of Perpetua Resources by 219.0% during the 1st quarter. Millennium Management LLC now owns 1,181,899 shares of the company’s stock valued at $12,634,000 after acquiring an additional 811,363 shares during the period. Finally, Teacher Retirement System of Texas bought a new position in shares of Perpetua Resources during the 4th quarter valued at approximately $19,426,000. 70.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PPTA. Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a research note on Tuesday, April 21st. B. Riley Financial boosted their price objective on Perpetua Resources from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, March 18th. HC Wainwright boosted their price objective on Perpetua Resources from $41.00 to $43.50 and gave the company a “buy” rating in a research note on Tuesday. Finally, Zacks Research downgraded Perpetua Resources from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 8th. Six research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Perpetua Resources has a consensus rating of “Moderate Buy” and a consensus target price of $35.42.

Insider Activity at Perpetua Resources

In other Perpetua Resources news, insider Mckinsey Margaret Lyon sold 8,699 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $29.53, for a total value of $256,881.47. Following the completion of the transaction, the insider directly owned 142,329 shares in the company, valued at $4,202,975.37. This represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jonathan Cherry sold 4,079 shares of the company’s 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 completion of the transaction, the insider owned 44,895 shares of the company’s stock, valued at $1,315,872.45. The trade was a 8.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.57% of the company’s stock.

Perpetua Resources Price Performance

PPTA stock opened at $26.58 on Wednesday. Perpetua Resources Corp. has a 1-year low of $11.68 and a 1-year high of $37.37. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of -20.14 and a beta of 0.02. The business has a 50 day simple moving average of $28.70 and a two-hundred day simple moving average of $28.43.

Perpetua Resources (NASDAQ:PPTA) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.21). Sell-side analysts anticipate that Perpetua Resources Corp. will post -1.54 EPS for the current fiscal year.

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.