Short Interest in Perpetua Resources Corp. (NASDAQ:PPTA) Rises By 29.4%

Perpetua Resources Corp. (NASDAQ:PPTA) was the target of a large growth in short interest in December. As of December 15th, there was short interest totalling 2,290,000 shares, a growth of 29.4% from the November 30th total of 1,770,000 shares. Based on an average daily trading volume, of 638,400 shares, the short-interest ratio is presently 3.6 days. Currently, 3.3% of the company’s stock are sold short.

Insider Activity

In other news, insider Alan Douglas Haslam sold 40,000 shares of the stock in a transaction 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 owns 65,571 shares in the company, valued at approximately $660,299.97. This represents a 37.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Perpetua Resources

Hedge funds have recently added to or reduced their stakes in the business. Continuum Advisory LLC lifted its holdings in Perpetua Resources by 500.0% in the third quarter. Continuum Advisory LLC now owns 4,800 shares of the company’s stock valued at $44,000 after acquiring an additional 4,000 shares during the period. Flaharty Asset Management LLC acquired a new position in shares of Perpetua Resources in the 2nd quarter valued at $70,000. Intech Investment Management LLC purchased a new stake in Perpetua Resources during the third quarter worth $98,000. Quantbot Technologies LP acquired a new stake in Perpetua Resources during the third quarter valued at $123,000. Finally, American Century Companies Inc. purchased a new position in Perpetua Resources in the second quarter valued at $124,000. 70.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on PPTA shares. National Bank Financial began coverage on shares of Perpetua Resources in a research note on Friday, September 6th. They set an “outperform” rating on the stock. HC Wainwright upped their target price on Perpetua Resources from $13.25 to $22.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $15.00 price target on shares of Perpetua Resources in a research report on Thursday, December 12th.

Perpetua Resources Trading Down 0.1 %

PPTA opened at $11.20 on Friday. The firm has a 50 day moving average of $10.51 and a two-hundred day moving average of $8.58. The firm has a market capitalization of $785.86 million, a PE ratio of -50.91 and a beta of 0.22. Perpetua Resources has a 12-month low of $2.69 and a 12-month high of $13.18.

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.