Perpetua Resources (NASDAQ:PPTA) Shares Gap Up to $8.09

Perpetua Resources Corp. (NASDAQ:PPTA) shares gapped up prior to trading on Thursday . The stock had previously closed at $8.09, but opened at $8.90. Perpetua Resources shares last traded at $9.07, with a volume of 338,067 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. National Bank Financial started coverage on shares of Perpetua Resources in a research report on Friday. They set an “outperform” rating for the company. HC Wainwright reiterated a “buy” rating and issued a $13.25 target price on shares of Perpetua Resources in a research report on Thursday, August 22nd.

Perpetua Resources Trading Down 5.4 %

The stock has a fifty day moving average of $6.93 and a two-hundred day moving average of $5.83. The company has a market capitalization of $550.56 million, a PE ratio of -31.59 and a beta of 0.29.

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

Institutional Trading of Perpetua Resources

Hedge funds have recently added to or reduced their stakes in the business. M&G Plc purchased a new position in shares of Perpetua Resources in the first quarter worth about $805,000. National Bank of Canada FI bought a new stake in Perpetua Resources in the fourth quarter valued at approximately $148,000. Price T Rowe Associates Inc. MD bought a new stake in Perpetua Resources in the first quarter valued at approximately $51,000. Russell Investments Group Ltd. boosted 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 valued at $2,419,000 after purchasing an additional 8,985 shares during the period. Finally, B. Riley Financial Inc. grew its holdings in shares of Perpetua Resources by 1.6% in the fourth quarter. B. Riley Financial Inc. now owns 1,489,903 shares of the company’s stock worth $4,723,000 after purchasing an additional 24,152 shares during the last quarter. 70.07% of the stock is owned by institutional investors.

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.