Short Interest in Perpetua Resources Corp. (NASDAQ:PPTA) Drops By 13.5%

Perpetua Resources Corp. (NASDAQ:PPTA) was the recipient of a large decline in short interest in January. As of January 15th, there was short interest totalling 1,980,000 shares, a decline of 13.5% from the December 31st total of 2,290,000 shares. Approximately 2.8% of the company’s shares are short sold. Based on an average daily volume of 671,500 shares, the short-interest ratio is presently 2.9 days.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Roth Mkm increased their price target on shares of Perpetua Resources from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. HC Wainwright raised their target price 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 Price Performance

NASDAQ:PPTA traded down $0.02 during mid-day trading on Monday, hitting $11.78. 717,555 shares of the company’s stock were exchanged, compared to its average volume of 806,517. The company has a market cap of $827.78 million, a PE ratio of -53.55 and a beta of 0.20. Perpetua Resources has a one year low of $2.69 and a one year high of $13.23. The business has a fifty day moving average price of $11.45 and a 200 day moving average price of $9.61.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PPTA. Fourth Sail Capital LP bought a new stake in Perpetua Resources in the third quarter worth $10,405,000. Ninety One UK Ltd bought a new position in Perpetua Resources in the 4th quarter worth about $1,693,000. State Street Corp grew its position in Perpetua Resources by 8.8% during 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 during the last quarter. JPMorgan Chase & Co. increased its stake in Perpetua Resources by 232.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 57,158 shares of the company’s stock valued at $534,000 after purchasing an additional 39,954 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Perpetua Resources in the second quarter worth approximately $197,000. 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.