Van ECK Associates Corp Acquires 989,090 Shares of Perpetua Resources Corp. $PPTA

Van ECK Associates Corp grew its holdings in Perpetua Resources Corp. (NASDAQ:PPTA) by 53.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,840,546 shares of the company’s stock after buying an additional 989,090 shares during the period. Van ECK Associates Corp’s holdings in Perpetua Resources were worth $57,464,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PPTA. Legal & General Group Plc lifted its holdings in shares of Perpetua Resources by 4.2% in the 3rd quarter. Legal & General Group Plc now owns 76,809 shares of the company’s stock valued at $1,554,000 after acquiring an additional 3,104 shares during the last quarter. Swiss National Bank lifted its stake in shares of Perpetua Resources by 5.6% in the 3rd quarter. Swiss National Bank now owns 145,900 shares of the company’s stock valued at $2,952,000 after purchasing an additional 7,700 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Perpetua Resources by 2,190.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,734 shares of the company’s stock worth $136,000 after purchasing an additional 6,440 shares during the period. Barclays PLC boosted its holdings in shares of Perpetua Resources by 4.5% in the 3rd quarter. Barclays PLC now owns 242,111 shares of the company’s stock worth $4,898,000 after purchasing an additional 10,463 shares during the period. Finally, Victory Capital Management Inc. bought a new position in shares of Perpetua Resources during the 3rd quarter valued at approximately $249,000. 70.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on PPTA shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Perpetua Resources in a research note on Thursday, January 22nd. HC Wainwright increased their target price on shares of Perpetua Resources from $30.00 to $41.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.50.

Perpetua Resources Stock Performance

PPTA opened at $32.95 on Wednesday. The stock’s 50 day moving average price is $30.72 and its 200-day moving average price is $25.61. Perpetua Resources Corp. has a one year low of $8.30 and a one year high of $37.37. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of -65.90 and a beta of -0.03.

Insiders Place Their Bets

In other Perpetua Resources news, 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 value of $178,799.50. Following the sale, the director 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alexander Mcleod Sternhell sold 10,148 shares of Perpetua Resources stock in a transaction on Monday, January 5th. The stock was sold at an average price of $26.50, for a total value of $268,922.00. Following the sale, the director owned 19,352 shares of the company’s stock, valued at approximately $512,828. This trade represents a 34.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 121,739 shares of company stock worth $3,289,604. Insiders own 1.90% of the company’s stock.

Perpetua Resources Company 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.