Traders Buy Large Volume of Call Options on Perpetua Resources (NASDAQ:PPTA)

Perpetua Resources Corp. (NASDAQ:PPTA) was the target of some unusual options trading on Monday. Investors acquired 7,524 call options on the stock. This is an increase of approximately 1,104% compared to the average daily volume of 625 call options.

Perpetua Resources Stock Up 17.2 %

NASDAQ PPTA traded up $1.91 during trading on Monday, hitting $12.99. The company’s stock had a trading volume of 1,200,565 shares, compared to its average volume of 672,401. Perpetua Resources has a 52 week low of $2.69 and a 52 week high of $13.23. The firm has a market cap of $911.55 million, a P/E ratio of -59.05 and a beta of 0.22. The firm has a 50 day moving average price of $10.57 and a 200 day moving average price of $8.74.

Insider Activity at Perpetua Resources

In other Perpetua Resources news, insider Alan Douglas Haslam sold 40,000 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $10.07, for a total transaction of $402,800.00. Following the sale, the insider now owns 65,571 shares in the company, valued at approximately $660,299.97. The trade was a 37.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.90% of the company’s stock.

Institutional Trading of Perpetua Resources

Several hedge funds and other institutional investors have recently bought and sold shares of PPTA. Bank of New York Mellon Corp increased its stake in 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 valued at $559,000 after acquiring an additional 17,954 shares during the period. Rhumbline Advisers increased its position in shares of Perpetua Resources by 51.0% during the 2nd quarter. Rhumbline Advisers now owns 49,450 shares of the company’s stock worth $257,000 after purchasing an additional 16,698 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of Perpetua Resources by 37.5% in the 2nd quarter. National Bank of Canada FI now owns 55,000 shares of the company’s stock valued at $281,000 after purchasing an additional 15,000 shares during the period. American Century Companies Inc. bought a new position in shares of Perpetua Resources during the 2nd quarter worth approximately $124,000. Finally, Herr Investment Group LLC raised its holdings in shares of Perpetua Resources by 5.8% in the second quarter. Herr Investment Group LLC now owns 1,450,498 shares of the company’s stock valued at $7,543,000 after purchasing an additional 80,000 shares during the last quarter. 70.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PPTA. Roth Mkm reiterated a “buy” rating and set a $15.00 price target on shares of Perpetua Resources in a report on Thursday, December 12th. HC Wainwright lifted their price target on Perpetua Resources from $13.25 to $22.00 and gave the company a “buy” rating in a report on Friday, November 15th.

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.