Perpetua Resources (NASDAQ:PPTA) Shares Gap Up to $9.00

Perpetua Resources Corp. (NASDAQ:PPTA) shares gapped up prior to trading on Monday . The stock had previously closed at $9.00, but opened at $9.21. Perpetua Resources shares last traded at $9.15, with a volume of 117,290 shares trading hands.

Analysts Set New Price Targets

Several brokerages have commented on PPTA. National Bank Financial assumed coverage on shares of Perpetua Resources in a report on Friday, September 6th. They set an “outperform” rating on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $13.25 price objective on shares of Perpetua Resources in a research report on Thursday, August 22nd.

Perpetua Resources Stock Down 2.1 %

The company has a market capitalization of $562.02 million, a price-to-earnings ratio of -32.91 and a beta of 0.29. The stock’s fifty day moving average price is $7.42 and its 200-day moving average price is $6.16.

Perpetua Resources (NASDAQ:PPTA) last issued its earnings results on Friday, August 9th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. Analysts anticipate that Perpetua Resources Corp. will post -0.21 EPS for the current year.

Institutional Investors Weigh In On Perpetua Resources

A number of large investors have recently added to or reduced their stakes in PPTA. Russell Investments Group Ltd. increased its stake in shares of Perpetua Resources by 1.6% during the first quarter. Russell Investments Group Ltd. now owns 581,600 shares of the company’s stock worth $2,419,000 after purchasing an additional 8,985 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in shares of Perpetua Resources in the first quarter worth $51,000. Flaharty Asset Management LLC bought a new position in Perpetua Resources during the 2nd quarter worth approximately $70,000. National Bank of Canada FI boosted its position in Perpetua Resources by 37.5% during the second quarter. National Bank of Canada FI now owns 55,000 shares of the company’s stock valued at $281,000 after acquiring an additional 15,000 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in Perpetua Resources by 51.0% in the second quarter. Rhumbline Advisers now owns 49,450 shares of the company’s stock worth $257,000 after purchasing an additional 16,698 shares in the last quarter. 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.