Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Perpetua Resources Corp. (NASDAQ:PPTA)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Perpetua Resources Corp. (NASDAQ:PPTA) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 122,500 shares of the company’s stock, valued at approximately $1,307,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.17% of Perpetua Resources as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Sprott Inc. boosted its stake in Perpetua Resources by 5.3% in the fourth quarter. Sprott Inc. now owns 2,938,871 shares of the company’s stock valued at $31,358,000 after buying an additional 148,273 shares in the last quarter. Amundi bought a new position in shares of Perpetua Resources in the fourth quarter worth about $7,788,000. State Street Corp boosted its stake in shares of Perpetua Resources by 8.8% in the 3rd quarter. State Street Corp now owns 593,502 shares of the company’s stock valued at $5,549,000 after purchasing an additional 48,220 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Perpetua Resources by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 484,829 shares of the company’s stock valued at $4,533,000 after purchasing an additional 2,252 shares during the last quarter. Finally, Ninety One UK Ltd acquired a new position in Perpetua Resources during the 4th quarter worth approximately $1,693,000. Institutional investors own 70.07% of the company’s stock.

Perpetua Resources Trading Up 3.5 %

NASDAQ:PPTA opened at $11.15 on Thursday. The stock’s 50-day moving average is $10.59 and its 200-day moving average is $10.23. The stock has a market cap of $784.30 million, a P/E ratio of -50.68 and a beta of 0.27. Perpetua Resources Corp. has a 1-year low of $3.88 and a 1-year high of $13.23.

Perpetua Resources (NASDAQ:PPTA) last posted its earnings results on Tuesday, March 25th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. As a group, equities analysts forecast that Perpetua Resources Corp. will post -0.21 EPS for the current year.

Insider Buying and Selling

In related news, Director Richie Darrin Haddock acquired 5,780 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were bought at an average cost of $8.56 per share, with a total value of $49,476.80. Following the completion of the purchase, the director now directly owns 5,780 shares in the company, valued at $49,476.80. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert Alan Dean bought 5,000 shares of Perpetua Resources stock in a transaction that occurred on Friday, February 21st. The stock was bought at an average price of $8.32 per share, for a total transaction of $41,600.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $83,200. The trade was a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 20,230 shares of company stock valued at $166,582 over the last 90 days. 1.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PPTA. Roth Mkm raised their target price on shares of Perpetua Resources from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. HC Wainwright increased their price target on Perpetua Resources from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th.

Perpetua Resources 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.