Perpetua Resources Corp. (NASDAQ:PPTA) Sees Significant Increase in Short Interest

Perpetua Resources Corp. (NASDAQ:PPTA) saw a large growth in short interest during the month of 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. Currently, 3.3% of the company’s shares are sold short. Based on an average daily trading volume, of 638,400 shares, the days-to-cover ratio is presently 3.6 days.

Insider Activity at Perpetua Resources

In other Perpetua Resources news, insider Alan Douglas Haslam sold 40,000 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Perpetua Resources

A number of hedge funds have recently made changes to their positions in the stock. Fourth Sail Capital LP purchased a new position in Perpetua Resources during the third quarter valued at approximately $10,405,000. Herr Investment Group LLC raised its holdings in Perpetua Resources by 5.8% in the 2nd quarter. Herr Investment Group LLC now owns 1,450,498 shares of the company’s stock valued at $7,543,000 after acquiring an additional 80,000 shares during the last quarter. State Street Corp boosted its position in shares of Perpetua Resources by 8.8% during the 3rd quarter. State Street Corp now owns 593,502 shares of the company’s stock valued at $5,549,000 after acquiring an additional 48,220 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Perpetua Resources by 232.2% during the third quarter. JPMorgan Chase & Co. now owns 57,158 shares of the company’s stock worth $534,000 after acquiring an additional 39,954 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in Perpetua Resources in the second quarter valued at approximately $197,000. 70.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Perpetua Resources Trading Down 5.5 %

NASDAQ PPTA opened at $10.58 on Tuesday. The stock has a market cap of $742.43 million, a PE ratio of -48.09 and a beta of 0.22. The company’s 50-day moving average price is $10.51 and its 200-day moving average price is $8.59. 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.