Perpetua Resources (NASDAQ:PPTA) Sees Large Volume Increase – Should You Buy?

Perpetua Resources Corp. (NASDAQ:PPTA) shares saw strong trading volume on Wednesday . 355,298 shares changed hands during trading, an increase of 25% from the previous session’s volume of 284,193 shares.The stock last traded at $11.45 and had previously closed at $10.59.

Analysts Set New Price Targets

A number of research firms have weighed in on PPTA. National Bank Financial initiated coverage on Perpetua Resources in a research report on Friday, September 6th. They issued an “outperform” rating for the company. Roth Mkm boosted their price target on shares of Perpetua Resources from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, HC Wainwright upped their price objective on shares of Perpetua Resources from $13.25 to $22.00 and gave the stock a “buy” rating in a report on Friday, November 15th.

Perpetua Resources Price Performance

The company’s 50 day moving average price is $9.65 and its 200 day moving average price is $7.92. The firm has a market capitalization of $757.84 million, a P/E ratio of -52.05 and a beta of 0.22.

Insider Activity

In other Perpetua Resources news, insider Alan Douglas Haslam sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $10.07, for a total value of $402,800.00. Following the transaction, the insider now directly owns 65,571 shares of the company’s stock, valued at approximately $660,299.97. This trade represents a 37.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Perpetua Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD acquired a new stake in Perpetua Resources in the first quarter worth $51,000. Bank of New York Mellon Corp raised its holdings in shares of Perpetua Resources by 20.0% during the second quarter. Bank of New York Mellon Corp now owns 107,551 shares of the company’s stock worth $559,000 after acquiring an additional 17,954 shares during the period. Flaharty Asset Management LLC acquired a new stake in shares of Perpetua Resources during the second quarter worth $70,000. Rhumbline Advisers raised its holdings in shares of Perpetua Resources by 51.0% during the second quarter. Rhumbline Advisers now owns 49,450 shares of the company’s stock worth $257,000 after acquiring an additional 16,698 shares during the period. Finally, National Bank of Canada FI raised its holdings in shares of Perpetua Resources by 37.5% during the second quarter. National Bank of Canada FI now owns 55,000 shares of the company’s stock worth $281,000 after acquiring an additional 15,000 shares during the period. 70.07% of the stock is owned by institutional investors.

About Perpetua Resources

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.