Insider Selling: Perpetua Resources (NASDAQ:PPTA) Director Sells 10,181 Shares of Stock

Perpetua Resources Corp. (NASDAQ:PPTA) Director Jeffrey Malmen sold 10,181 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $26.34, for a total value of $268,167.54. Following the completion of the sale, the director owned 19,319 shares of the company’s stock, valued at $508,862.46. This represents a 34.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Perpetua Resources Stock Up 3.0%

Perpetua Resources stock traded up $0.84 during mid-day trading on Wednesday, hitting $28.89. 2,231,870 shares of the company’s stock were exchanged, compared to its average volume of 1,966,804. The company’s 50 day simple moving average is $24.87 and its 200-day simple moving average is $20.61. The firm has a market capitalization of $3.58 billion, a P/E ratio of -57.77 and a beta of 0.03. Perpetua Resources Corp. has a fifty-two week low of $7.81 and a fifty-two week high of $31.65.

Perpetua Resources (NASDAQ:PPTA) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.23). Research analysts expect that Perpetua Resources Corp. will post -0.21 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on PPTA. BMO Capital Markets set a $44.00 price objective on shares of Perpetua Resources in a research note on Tuesday, October 28th. Roth Capital set a $32.00 price target on Perpetua Resources and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Perpetua Resources in a research note on Wednesday, October 8th. Zacks Research raised Perpetua Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Finally, Wall Street Zen lowered Perpetua Resources from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $30.67.

Institutional Trading of Perpetua Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Paulson & CO. Inc. boosted its holdings in Perpetua Resources by 30.6% in the 2nd quarter. Paulson & CO. Inc. now owns 32,347,299 shares of the company’s stock valued at $392,696,000 after purchasing an additional 7,575,757 shares during the period. Alyeska Investment Group L.P. boosted its stake in shares of Perpetua Resources by 40.4% in 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 period. Encompass Capital Advisors LLC grew its position in Perpetua Resources by 145.0% during the second quarter. Encompass Capital Advisors LLC now owns 3,608,369 shares of the company’s stock worth $43,806,000 after buying an additional 2,135,478 shares in the last quarter. Van ECK Associates Corp increased its stake in Perpetua Resources by 53.4% during the 3rd quarter. Van ECK Associates Corp now owns 2,840,546 shares of the company’s stock worth $57,464,000 after acquiring an additional 989,090 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Perpetua Resources by 165.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,912,040 shares of the company’s stock valued at $38,685,000 after acquiring an additional 1,192,744 shares in the last quarter. 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.