Hsbc Holdings PLC Decreases Stake in Perpetua Resources Corp. (NASDAQ:PPTA)

Hsbc Holdings PLC cut its holdings in shares of Perpetua Resources Corp. (NASDAQ:PPTA) by 17.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,523 shares of the company’s stock after selling 8,316 shares during the quarter. Hsbc Holdings PLC owned approximately 0.06% of Perpetua Resources worth $197,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PPTA. Herr Investment Group LLC bought a new stake in shares of Perpetua Resources in the first quarter valued at approximately $5,701,000. M&G Plc bought a new stake in Perpetua Resources during the 1st quarter valued at $805,000. Nokomis Capital L.L.C. purchased a new stake in shares of Perpetua Resources during the first quarter worth $406,000. American Century Companies Inc. bought a new position in shares of Perpetua Resources in the second quarter worth $124,000. Finally, Bank of New York Mellon Corp grew its position in shares of Perpetua Resources by 20.0% in the second quarter. Bank of New York Mellon Corp now owns 107,551 shares of the company’s stock valued at $559,000 after purchasing an additional 17,954 shares in the last quarter. 70.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PPTA has been the topic of a number of recent research reports. HC Wainwright reissued a “buy” rating and set a $13.25 price objective on shares of Perpetua Resources in a report on Thursday, August 22nd. National Bank Financial assumed coverage on shares of Perpetua Resources in a research report on Friday, September 6th. They issued an “outperform” rating for the company.

Perpetua Resources Stock Performance

Perpetua Resources stock opened at $9.12 on Friday. Perpetua Resources Corp. has a fifty-two week low of $2.69 and a fifty-two week high of $10.19. The stock has a market cap of $588.32 million, a P/E ratio of -33.76 and a beta of 0.29. The firm’s fifty day moving average price is $8.12 and its 200-day moving average price is $6.62.

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

Perpetua Resources 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.