Perpetua Resources Corp. (NASDAQ:PPTA) Sees Significant Drop in Short Interest

Perpetua Resources Corp. (NASDAQ:PPTA) was the target of a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 1,030,000 shares, a decline of 13.4% from the August 31st total of 1,190,000 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average daily volume of 324,700 shares, the short-interest ratio is presently 3.2 days.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. National Bank Financial initiated coverage on Perpetua Resources in a report on Friday, September 6th. They set an “outperform” rating for the company. HC Wainwright restated a “buy” rating and set a $13.25 price objective on shares of Perpetua Resources in a research report on Thursday, August 22nd.

Institutional Trading of Perpetua Resources

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new position in Perpetua Resources during the second quarter worth about $197,000. Herr Investment Group LLC increased its stake in Perpetua Resources by 5.8% in the 2nd quarter. Herr Investment Group LLC now owns 1,450,498 shares of the company’s stock valued at $7,543,000 after purchasing an additional 80,000 shares in the last quarter. American Century Companies Inc. acquired a new position in Perpetua Resources during the second quarter worth $124,000. National Bank of Canada FI boosted its position in Perpetua Resources by 37.5% during the second quarter. National Bank of Canada FI now owns 55,000 shares of the company’s stock worth $281,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in Perpetua Resources by 51.0% in the second quarter. Rhumbline Advisers now owns 49,450 shares of the company’s stock valued at $257,000 after purchasing an additional 16,698 shares during the last quarter. Institutional investors and hedge funds own 70.07% of the company’s stock.

Perpetua Resources Trading Down 6.0 %

Shares of PPTA stock opened at $9.53 on Friday. The stock has a 50 day simple moving average of $7.86 and a 200-day simple moving average of $6.43. The company has a market cap of $615.92 million, a price-to-earnings ratio of -35.29 and a beta of 0.29. Perpetua Resources has a 12-month low of $2.69 and a 12-month high of $10.19.

Perpetua Resources (NASDAQ:PPTA) last released its quarterly earnings data on Friday, August 9th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. On average, equities analysts forecast that Perpetua Resources will post -0.21 earnings per share for the current fiscal year.

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.