Perpetua Resources (NASDAQ:PPTA) Shares Gap Up – Still a Buy?

Perpetua Resources Corp. (NASDAQ:PPTA) gapped up before the market opened 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.

Wall Street Analysts Forecast Growth

PPTA has been the topic of several recent research reports. Roth Mkm restated a “buy” rating and set a $15.00 price target on shares of Perpetua Resources in a report on Thursday, December 12th. HC Wainwright upped 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

The company has a 50-day moving average price of $10.57 and a 200-day moving average price of $8.74. The firm has a market capitalization of $856.81 million, a price-to-earnings ratio of -55.50 and a beta of 0.22.

Insider Buying and Selling at Perpetua Resources

In other Perpetua Resources news, insider Alan Douglas Haslam sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $10.07, for a total transaction of $402,800.00. Following the completion of the sale, the insider now directly owns 65,571 shares of the company’s stock, valued at $660,299.97. This represents a 37.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Perpetua Resources

Large investors have recently modified their holdings of the business. Continuum Advisory LLC raised its stake 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 worth $44,000 after buying an additional 4,000 shares in the last quarter. Intech Investment Management LLC purchased a new position in Perpetua Resources in the 3rd quarter valued at approximately $98,000. Quantbot Technologies LP purchased a new position in Perpetua Resources in the 3rd quarter valued at approximately $123,000. SG Americas Securities LLC purchased a new position in Perpetua Resources in the 3rd quarter valued at approximately $125,000. Finally, American Century Companies Inc. purchased a new position in Perpetua Resources in the 2nd quarter valued at approximately $124,000. 70.07% of the stock is owned by hedge funds and other 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.