Perpetua Resources (NASDAQ:PPTA) Sees Large Volume Increase

Perpetua Resources Corp. (NASDAQ:PPTA) shares saw unusually-high trading volume on Wednesday . Approximately 128,514 shares traded hands during trading, a decline of 44% from the previous session’s volume of 228,858 shares.The stock last traded at $9.22 and had previously closed at $8.77.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PPTA shares. National Bank Financial began coverage on shares of Perpetua Resources in a research note on Friday, September 6th. They issued an “outperform” rating for the company. HC Wainwright reissued a “buy” rating and set a $13.25 price target on shares of Perpetua Resources in a research report on Thursday, August 22nd.

Perpetua Resources Price Performance

The business has a 50-day simple moving average of $7.68 and a two-hundred day simple moving average of $6.33. The stock has a market cap of $582.83 million, a price-to-earnings ratio of -34.15 and a beta of 0.29.

Perpetua Resources (NASDAQ:PPTA) last announced its quarterly 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. As a group, equities analysts anticipate that Perpetua Resources Corp. will post -0.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Perpetua Resources

Several institutional investors and hedge funds have recently made changes to their positions in PPTA. Price T Rowe Associates Inc. MD bought a new stake in shares of Perpetua Resources in the first quarter valued at approximately $51,000. Flaharty Asset Management LLC bought a new stake in shares of Perpetua Resources in the second quarter valued at approximately $70,000. American Century Companies Inc. bought a new stake in shares of Perpetua Resources in the second quarter valued at approximately $124,000. Marshall Wace LLP bought a new stake in shares of Perpetua Resources in the second quarter valued at approximately $197,000. Finally, Rhumbline Advisers boosted its stake in shares of Perpetua Resources by 51.0% in the second quarter. Rhumbline Advisers now owns 49,450 shares of the company’s stock valued at $257,000 after buying an additional 16,698 shares during the period. Institutional investors and hedge funds own 70.07% of the company’s stock.

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.