Perpetua Resources (NASDAQ:PPTA) Trading Up 7.1% – Should You Buy?

Perpetua Resources Corp. (NASDAQ:PPTA) traded up 7.1% during trading on Tuesday . The company traded as high as $11.44 and last traded at $11.44. 402,432 shares traded hands during trading, an increase of 20% from the average session volume of 335,366 shares. The stock had previously closed at $10.68.

Analyst Upgrades and Downgrades

PPTA has been the subject of several research analyst reports. HC Wainwright boosted their target price on shares of Perpetua Resources from $13.25 to $22.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. National Bank Financial initiated coverage on Perpetua Resources in a research note on Friday, September 6th. They set an “outperform” rating on the stock. Finally, Roth Mkm reiterated a “buy” rating and issued a $15.00 target price on shares of Perpetua Resources in a research report on Thursday, December 12th.

Perpetua Resources Stock Performance

The company’s fifty day moving average price is $10.46 and its 200 day moving average price is $8.52. The firm has a market capitalization of $804.80 million, a price-to-earnings ratio of -52.14 and a beta of 0.22.

Insider Activity

In other Perpetua Resources news, insider Alan Douglas Haslam sold 40,000 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $10.07, for a total transaction 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 $660,299.97. The trade was a 37.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of Perpetua Resources

Several institutional investors have recently modified their holdings of PPTA. Continuum Advisory LLC raised its holdings in shares of Perpetua Resources by 500.0% in the 3rd quarter. Continuum Advisory LLC now owns 4,800 shares of the company’s stock worth $44,000 after purchasing an additional 4,000 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Perpetua Resources in the third quarter valued at $98,000. Quantbot Technologies LP acquired a new stake in shares of Perpetua Resources during the 3rd quarter valued at $123,000. Flaharty Asset Management LLC acquired a new stake in shares of Perpetua Resources during the second quarter worth $70,000. Finally, SG Americas Securities LLC purchased a new position in shares of Perpetua Resources in the third quarter worth approximately $125,000. Institutional investors and hedge funds 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.