Perpetua Resources Target of Unusually Large Options Trading (NASDAQ:PPTA)

Perpetua Resources Corp. (NASDAQ:PPTAGet Free Report) was the recipient of unusually large options trading activity on Friday. Stock investors bought 8,030 call options on the stock. This is an increase of 292% compared to the average volume of 2,051 call options.

Insiders Place Their Bets

In other news, major shareholder Paulson & Co. Inc. bought 7,575,757 shares of the company’s stock in a transaction dated Monday, June 16th. The shares were bought at an average cost of $13.20 per share, with a total value of $99,999,992.40. Following the acquisition, the insider now owns 32,347,299 shares in the company, valued at $426,984,346.80. This trade represents a 30.58% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Stephen Wright sold 6,500 shares of the company’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $13.85, for a total transaction of $90,025.00. Following the completion of the sale, the insider now directly owns 14,195 shares in the company, valued at approximately $196,600.75. The trade was a 31.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Perpetua Resources

Large investors have recently modified their holdings of the business. ProShare Advisors LLC bought a new position in shares of Perpetua Resources during the fourth quarter valued at $116,000. Rhumbline Advisers raised its stake in shares of Perpetua Resources by 6.0% during the first quarter. Rhumbline Advisers now owns 64,688 shares of the company’s stock valued at $692,000 after acquiring an additional 3,672 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Perpetua Resources during the fourth quarter valued at $55,000. Raymond James Financial Inc. bought a new position in shares of Perpetua Resources during the fourth quarter valued at $280,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Perpetua Resources by 387.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 67,483 shares of the company’s stock valued at $720,000 after acquiring an additional 53,634 shares during the last quarter. Institutional investors own 70.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PPTA shares. National Bank Financial raised shares of Perpetua Resources to a “strong-buy” rating in a report on Friday, March 21st. HC Wainwright restated a “buy” rating and set a $27.50 target price on shares of Perpetua Resources in a research report on Tuesday, June 17th. B. Riley restated a “buy” rating and set a $17.00 target price (up previously from $16.00) on shares of Perpetua Resources in a research report on Wednesday, June 18th. Finally, National Bankshares reiterated an “outperform” rating on shares of Perpetua Resources in a research report on Wednesday, June 18th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Perpetua Resources presently has a consensus rating of “Buy” and a consensus price target of $21.17.

Read Our Latest Stock Analysis on Perpetua Resources

Perpetua Resources Price Performance

Shares of Perpetua Resources stock opened at $11.86 on Friday. Perpetua Resources has a fifty-two week low of $5.09 and a fifty-two week high of $17.96. The firm has a market capitalization of $1.14 billion, a P/E ratio of -40.90 and a beta of 0.02. The company’s 50 day moving average price is $14.04 and its two-hundred day moving average price is $12.04.

Perpetua Resources (NASDAQ:PPTAGet Free Report) last issued its earnings results on Friday, May 9th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.07). On average, analysts expect that Perpetua Resources will post -0.21 earnings per share for the current year.

About Perpetua Resources

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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.

Further Reading

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