Perpetua Resources (NASDAQ:PPTA) Shares Up 8.8% – Still a Buy?

Perpetua Resources Corp. (NASDAQ:PPTA) was up 8.8% on Monday . The company traded as high as $10.76 and last traded at $10.71. Approximately 243,870 shares traded hands during trading, a decline of 49% from the average daily volume of 479,809 shares. The stock had previously closed at $9.84.

Analyst Ratings Changes

PPTA has been the subject of a number of research reports. Roth Mkm increased their price target on Perpetua Resources from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. HC Wainwright upped their target price on Perpetua Resources from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th.

Perpetua Resources Trading Up 0.8 %

The company’s 50-day simple moving average is $10.61 and its 200-day simple moving average is $10.22. The stock has a market capitalization of $757.57 million, a price-to-earnings ratio of -48.95 and a beta of 0.27.

Insider Transactions at Perpetua Resources

In related news, insider Alan Douglas Haslam sold 10,400 shares of Perpetua Resources stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $9.24, for a total value of $96,096.00. Following the transaction, the insider now directly owns 65,763 shares of the company’s stock, valued at $607,650.12. The trade was a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mckinsey Margaret Lyon sold 22,710 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $8.82, for a total value of $200,302.20. Following the completion of the sale, the insider now owns 89,154 shares in the company, valued at $786,338.28. The trade was a 20.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 20,230 shares of company stock worth $166,582. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Perpetua Resources

A number of hedge funds have recently bought and sold shares of PPTA. Ancora Advisors LLC bought a new stake in Perpetua Resources during the fourth quarter valued at $37,000. Continuum Advisory LLC grew its stake in Perpetua Resources by 500.0% during the third quarter. Continuum Advisory LLC now owns 4,800 shares of the company’s stock worth $44,000 after purchasing an additional 4,000 shares during the period. BNP Paribas Financial Markets acquired a new stake in Perpetua Resources during the fourth quarter worth approximately $55,000. Intech Investment Management LLC acquired a new stake in Perpetua Resources during the third quarter worth approximately $98,000. Finally, ProShare Advisors LLC acquired a new position in Perpetua Resources in the fourth quarter valued at approximately $116,000. Institutional investors own 70.07% of the company’s stock.

About Perpetua Resources

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.