Perpetua Resources Sees Unusually High Options Volume (NASDAQ:PPTA)

Perpetua Resources Corp. (NASDAQ:PPTA) saw unusually large options trading activity on Thursday. Stock investors purchased 4,077 call options on the stock. This represents an increase of approximately 221% compared to the typical daily volume of 1,270 call options.

Insider Buying and Selling

In other news, insider Mckinsey Margaret Lyon sold 20,000 shares of Perpetua Resources stock in a transaction on Friday, March 28th. The shares were sold at an average price of $11.00, for a total transaction of $220,000.00. Following the transaction, the insider now owns 89,154 shares in the company, valued at $980,694. This trade represents a 18.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael Stephen Wright sold 6,500 shares of Perpetua Resources stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $13.85, for a total transaction of $90,025.00. Following the transaction, the insider now owns 14,195 shares in the company, valued at $196,600.75. This represents a 31.41% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Perpetua Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. DLD Asset Management LP acquired a new position in Perpetua Resources during the 1st quarter valued at approximately $1,069,000. Rhumbline Advisers increased its stake in Perpetua Resources by 6.0% during the 1st quarter. Rhumbline Advisers now owns 64,688 shares of the company’s stock valued at $692,000 after purchasing an additional 3,672 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Perpetua Resources by 1.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 108,921 shares of the company’s stock valued at $1,164,000 after purchasing an additional 1,835 shares in the last quarter. Millennium Management LLC increased its stake in 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 purchasing an additional 811,363 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Perpetua Resources by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,958 shares of the company’s stock worth $672,000 after acquiring an additional 2,680 shares during the period. Hedge funds and other institutional investors own 70.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PPTA shares. HC Wainwright reduced their price target on shares of Perpetua Resources from $28.00 to $27.50 and set a “buy” rating on the stock in a report on Tuesday, May 13th. National Bankshares reiterated an “outperform” rating on shares of Perpetua Resources in a report on Wednesday, April 2nd. Finally, National Bank Financial upgraded shares of Perpetua Resources to a “strong-buy” rating in a report on Friday, March 21st.

Perpetua Resources Price Performance

Perpetua Resources stock opened at $12.84 on Friday. The firm has a 50-day moving average of $13.86 and a two-hundred day moving average of $11.89. Perpetua Resources has a 1 year low of $5.01 and a 1 year high of $17.96. The stock has a market cap of $918.61 million, a price-to-earnings ratio of -58.36 and a beta of 0.02.

Perpetua Resources (NASDAQ:PPTA) last announced its quarterly earnings results on Friday, May 9th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.07). Research analysts expect that Perpetua Resources will post -0.21 earnings per share for the current year.

About Perpetua Resources

Perpetua Resources Corp. engages in the exploration and development of mineral properties in the United States. The company primarily explores for gold, silver, and antimony deposits. Its principal asset is the 100% owned Stibnite Gold project, which includes 1,672 unpatented lode claims, mill sites, and patented land holdings covering an area of approximately 11,548 hectares located in Valley County, Idaho.