Perpetua Resources (NASDAQ:PPTA) Shares Gap Up – What’s Next?

Perpetua Resources Corp. (NASDAQ:PPTA)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $11.08, but opened at $12.85. Perpetua Resources shares last traded at $12.84, with a volume of 574,902 shares traded.

Wall Street Analyst Weigh In

PPTA has been the topic of a number of recent analyst reports. HC Wainwright lifted their price objective on shares of Perpetua Resources from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday. Roth Mkm boosted their price target on shares of Perpetua Resources from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday.

Perpetua Resources Stock Performance

The stock has a market capitalization of $877.86 million, a P/E ratio of -56.86 and a beta of 0.19. The business has a 50 day simple moving average of $10.67 and a 200-day simple moving average of $8.82.

Insider Activity

In related news, insider Alan Douglas Haslam sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $10.07, for a total value of $402,800.00. Following the sale, the insider now directly owns 65,571 shares in the company, valued at $660,299.97. The trade was a 37.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.90% of the company’s stock.

Institutional Trading of Perpetua Resources

A number of large investors have recently added to or reduced their stakes in the business. Continuum Advisory LLC lifted its position in shares of Perpetua Resources by 500.0% during the 3rd quarter. Continuum Advisory LLC now owns 4,800 shares of the company’s stock valued at $44,000 after acquiring an additional 4,000 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Perpetua Resources during the third quarter valued at $98,000. Quantbot Technologies LP acquired a new position in shares of Perpetua Resources in the 3rd quarter valued at $123,000. SG Americas Securities LLC purchased a new position in Perpetua Resources in the 3rd quarter worth about $125,000. Finally, American Century Companies Inc. acquired a new stake in Perpetua Resources during the 2nd quarter worth about $124,000. 70.07% of the stock is currently owned by institutional investors.

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.