Perpetua Resources (NASDAQ:PPTA) Hits New 12-Month High – Should You Buy?

Perpetua Resources Corp. (NASDAQ:PPTA)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $10.68 and last traded at $10.61, with a volume of 93425 shares changing hands. The stock had previously closed at $10.38.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. HC Wainwright restated a “buy” rating and issued a $13.25 target price on shares of Perpetua Resources in a research report on Thursday, August 22nd. National Bank Financial started coverage on Perpetua Resources in a report on Friday, September 6th. They issued an “outperform” rating for the company. Finally, Roth Mkm lifted their target price on Perpetua Resources from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday.

Perpetua Resources Trading Down 5.0 %

The stock has a market cap of $655.77 million, a P/E ratio of -37.63 and a beta of 0.29. The stock’s 50-day moving average is $8.97 and its 200-day moving average is $7.08.

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

Insider Buying and Selling at Perpetua Resources

In other news, insider Alan Douglas Haslam sold 40,000 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $10.07, for a total value of $402,800.00. Following the completion of the sale, the insider now owns 65,571 shares in the company, valued at $660,299.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Perpetua Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Herr Investment Group LLC boosted its position in shares of Perpetua Resources by 5.8% during 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. Russell Investments Group Ltd. lifted its stake in Perpetua Resources by 1.6% during the first quarter. Russell Investments Group Ltd. now owns 581,600 shares of the company’s stock valued at $2,419,000 after purchasing an additional 8,985 shares during the last quarter. M&G Plc bought a new stake in Perpetua Resources during the first quarter worth approximately $805,000. Bank of New York Mellon Corp grew its position in Perpetua Resources by 20.0% in the second quarter. Bank of New York Mellon Corp now owns 107,551 shares of the company’s stock worth $559,000 after buying an additional 17,954 shares during the last quarter. Finally, Nokomis Capital L.L.C. acquired a new position in Perpetua Resources in the first quarter worth approximately $406,000. 70.07% of the stock is currently owned by institutional investors.

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.