Investors Purchase Large Volume of Call Options on Perpetua Resources (NASDAQ:PPTA)

Perpetua Resources Corp. (NASDAQ:PPTA) was the target of some unusual options trading on Monday. Stock traders purchased 7,524 call options on the company. This is an increase of approximately 1,104% compared to the typical daily volume of 625 call options.

Analysts Set New Price Targets

PPTA has been the subject of a number of analyst reports. Roth Mkm reissued a “buy” rating and issued a $15.00 price objective on shares of Perpetua Resources in a research report on Thursday, December 12th. HC Wainwright lifted their price target on Perpetua Resources from $13.25 to $22.00 and gave the stock a “buy” rating in a report on Friday, November 15th.

Perpetua Resources Stock Performance

Shares of NASDAQ PPTA traded up $1.91 during mid-day trading on Monday, reaching $12.99. The company had a trading volume of 1,200,565 shares, compared to its average volume of 672,401. The business’s 50-day simple moving average is $10.57 and its 200 day simple moving average is $8.74. Perpetua Resources has a one year low of $2.69 and a one year high of $13.23. The firm has a market cap of $911.55 million, a price-to-earnings ratio of -59.05 and a beta of 0.22.

Insider Activity at Perpetua Resources

In related news, insider Alan Douglas Haslam sold 40,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 65,571 shares of the company’s stock, valued at approximately $660,299.97. This trade represents a 37.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Continuum Advisory LLC increased its position in shares of 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 acquiring an additional 4,000 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Perpetua Resources during the third quarter valued at approximately $98,000. Quantbot Technologies LP purchased a new position in shares of Perpetua Resources during the third quarter valued at approximately $123,000. SG Americas Securities LLC bought a new stake in Perpetua Resources during the third quarter worth $125,000. Finally, American Century Companies Inc. bought a new position in Perpetua Resources during the 2nd quarter valued at $124,000. Institutional investors own 70.07% of the company’s stock.

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.