Donald Smith & CO. Inc. Takes Position in Perpetua Resources Corp. $PPTA

Donald Smith & CO. Inc. purchased a new position in shares of Perpetua Resources Corp. (NASDAQ:PPTA) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 108,130 shares of the company’s stock, valued at approximately $2,245,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Royal Bank of Canada boosted its position in Perpetua Resources by 24.1% during the 1st quarter. Royal Bank of Canada now owns 485,118 shares of the company’s stock worth $13,641,000 after purchasing an additional 94,302 shares during the period. Purpose Unlimited Inc. purchased a new position in Perpetua Resources in the fourth quarter valued at about $1,798,000. Intact Investment Management Inc. purchased a new position in Perpetua Resources in the fourth quarter valued at about $4,183,000. Amundi lifted its stake in shares of Perpetua Resources by 37.3% during the first quarter. Amundi now owns 1,384,758 shares of the company’s stock worth $38,939,000 after purchasing an additional 375,962 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of Perpetua Resources during the fourth quarter worth about $19,426,000. 70.07% of the stock is owned by institutional investors and hedge funds.

Perpetua Resources Price Performance

Shares of PPTA stock opened at $25.70 on Friday. Perpetua Resources Corp. has a 12 month low of $16.43 and a 12 month high of $37.37. The firm has a market capitalization of $3.22 billion, a P/E ratio of -12.72 and a beta of 0.09. The company’s fifty day moving average price is $21.41 and its two-hundred day moving average price is $26.25.

Perpetua Resources (NASDAQ:PPTA) last announced its earnings results on Friday, August 14th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.59). During the same quarter in the prior year, the business posted $0.08 earnings per share. On average, sell-side analysts anticipate that Perpetua Resources Corp. will post -2.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PPTA shares. Zacks Research upgraded Perpetua Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. B. Riley Financial initiated coverage on Perpetua Resources in a research report on Monday, August 3rd. They set a “buy” rating and a $30.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $43.50 price target on shares of Perpetua Resources in a report on Tuesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Perpetua Resources in a research report on Friday, July 17th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Perpetua Resources presently has an average rating of “Moderate Buy” and an average target price of $35.90.

Perpetua Resources Profile

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. The company was formerly known as Midas Gold Corp. and changed its name to Perpetua Resources Corp.