Connor Clark & Lunn Investment Management Ltd. Takes Position in Perpetua Resources Corp. $PPTA

Connor Clark & Lunn Investment Management Ltd. bought a new position in Perpetua Resources Corp. (NASDAQ:PPTA) during the 2nd quarter, Holdings Channel reports. The firm bought 729,520 shares of the company’s stock, valued at approximately $15,128,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PPTA. BlackRock Inc. bought a new stake in shares of Perpetua Resources during the second quarter worth $110,181,000. JPMorgan Chase & Co. lifted its position in Perpetua Resources by 3,107.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,910,833 shares of the company’s stock worth $70,471,000 after buying an additional 2,820,067 shares in the last quarter. Alyeska Investment Group L.P. grew its holdings in Perpetua Resources by 40.4% during the 3rd quarter. Alyeska Investment Group L.P. now owns 4,581,234 shares of the company’s stock worth $92,678,000 after acquiring an additional 1,318,008 shares during the last quarter. Vanguard Group Inc. increased its position in Perpetua Resources by 65.1% in the 4th quarter. Vanguard Group Inc. now owns 3,157,670 shares of the company’s stock valued at $76,447,000 after acquiring an additional 1,245,630 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Perpetua Resources by 219.0% in the first quarter. Millennium Management LLC now owns 1,181,899 shares of the company’s stock worth $12,634,000 after acquiring an additional 811,363 shares during the last quarter. 70.07% of the stock is owned by institutional investors and hedge funds.

Perpetua Resources Price Performance

Shares of NASDAQ PPTA opened at $27.02 on Wednesday. Perpetua Resources Corp. has a fifty-two week low of $16.43 and a fifty-two week high of $37.37. The firm has a market capitalization of $3.38 billion, a P/E ratio of -13.38 and a beta of 0.09. The company’s 50 day simple moving average is $21.43 and its 200 day simple moving average is $26.21.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PPTA. B. Riley Financial started coverage on shares of Perpetua Resources in a research note on Monday, August 3rd. They set a “buy” rating and a $30.00 price target on the stock. Zacks Research upgraded Perpetua Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Perpetua Resources in a research report on Friday, July 17th. Finally, HC Wainwright reiterated a “buy” rating and issued a $43.50 price target on shares of Perpetua Resources in a report on Tuesday, August 18th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.90.

Perpetua Resources Company 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.