ExodusPoint Capital Management LP Makes New Investment in Perpetua Resources Corp. (NASDAQ:PPTA)

ExodusPoint Capital Management LP purchased a new stake in Perpetua Resources Corp. (NASDAQ:PPTA) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 13,096 shares of the company’s stock, valued at approximately $140,000.

Other hedge funds also recently modified their holdings of the company. Sprott Inc. boosted its stake in shares of Perpetua Resources by 5.3% during the fourth quarter. Sprott Inc. now owns 2,938,871 shares of the company’s stock valued at $31,358,000 after purchasing an additional 148,273 shares in the last quarter. Amundi bought a new stake in Perpetua Resources during the 4th quarter worth approximately $7,788,000. State Street Corp grew its holdings in Perpetua Resources by 8.8% during the 3rd quarter. State Street Corp now owns 593,502 shares of the company’s stock worth $5,549,000 after acquiring an additional 48,220 shares during the last quarter. Geode Capital Management LLC increased its position in Perpetua Resources by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 489,958 shares of the company’s stock valued at $5,228,000 after acquiring an additional 5,129 shares during the period. Finally, Ninety One UK Ltd bought a new position in shares of Perpetua Resources during the fourth quarter valued at $1,693,000. Institutional investors and hedge funds own 70.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PPTA shares. National Bankshares restated an “outperform” rating on shares of Perpetua Resources in a report on Wednesday, April 2nd. National Bank Financial raised Perpetua Resources to a “strong-buy” rating in a research note on Friday, March 21st. Roth Mkm lifted their price objective on Perpetua Resources from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Finally, HC Wainwright increased their target price on shares of Perpetua Resources from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, March 21st.

Insider Activity

In related news, insider Mckinsey Margaret Lyon sold 22,710 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $8.82, for a total transaction of $200,302.20. Following the transaction, the insider now directly owns 89,154 shares of the company’s stock, valued at approximately $786,338.28. This represents a 20.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Alan Dean acquired 5,000 shares of Perpetua Resources stock in a transaction on Friday, February 21st. The stock was purchased at an average cost of $8.32 per share, with a total value of $41,600.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $83,200. This trade represents a 100.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 20,230 shares of company stock worth $166,582 and sold 53,110 shares worth $516,398. 1.90% of the stock is currently owned by company insiders.

Perpetua Resources Trading Up 16.1 %

Shares of Perpetua Resources stock opened at $13.74 on Tuesday. The business has a 50-day moving average price of $10.17 and a two-hundred day moving average price of $10.52. Perpetua Resources Corp. has a 1-year low of $4.96 and a 1-year high of $13.75. The company has a market cap of $970.17 million, a P/E ratio of -62.45 and a beta of 0.12.

Perpetua Resources (NASDAQ:PPTA) last issued its earnings results on Wednesday, March 19th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. Equities research analysts forecast that Perpetua Resources Corp. will post -0.21 EPS for the current fiscal year.

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.