Perpetua Resources (NASDAQ:PPTA) Stock Price Up 3.8% – What’s Next?

Perpetua Resources Corp. (NASDAQ:PPTA)’s share price shot up 3.8% during trading on Monday . The stock traded as high as $10.57 and last traded at $10.52. Approximately 65,230 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 253,320 shares. The stock had previously closed at $10.13.

Analysts Set New Price Targets

A number of research firms have issued reports on PPTA. HC Wainwright reissued a “buy” rating and issued a $13.25 target price on shares of Perpetua Resources in a research report on Thursday, August 22nd. National Bank Financial began coverage on shares of Perpetua Resources in a research note on Friday, September 6th. They issued an “outperform” rating for the company.

Perpetua Resources Price Performance

The firm’s 50 day moving average is $8.80 and its 200 day moving average is $7.00. The company has a market cap of $677.07 million, a PE ratio of -37.52 and a beta of 0.29.

Perpetua Resources (NASDAQ:PPTA) last posted its quarterly earnings data on Friday, August 9th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. As a group, analysts anticipate that Perpetua Resources Corp. will post -0.21 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PPTA. M&G Plc bought a new position in shares of Perpetua Resources in the 1st quarter worth $805,000. Herr Investment Group LLC increased its stake in Perpetua Resources by 5.8% in the second quarter. Herr Investment Group LLC now owns 1,450,498 shares of the company’s stock valued at $7,543,000 after acquiring an additional 80,000 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in Perpetua Resources during the first quarter valued at about $51,000. Russell Investments Group Ltd. lifted its stake in Perpetua Resources by 1.6% during the first quarter. Russell Investments Group Ltd. now owns 581,600 shares of the company’s stock worth $2,419,000 after purchasing an additional 8,985 shares during the last quarter. Finally, American Century Companies Inc. purchased a new position in shares of Perpetua Resources in the 2nd quarter worth about $124,000. 70.07% of the stock is currently owned by institutional investors.

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.