Perpetua Resources Corp. (NASDAQ:PPTA) Short Interest Up 29.4% in December

Perpetua Resources Corp. (NASDAQ:PPTA) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totalling 2,290,000 shares, an increase of 29.4% from the November 30th total of 1,770,000 shares. Currently, 3.3% of the shares of the stock are sold short. Based on an average daily volume of 638,400 shares, the short-interest ratio is presently 3.6 days.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PPTA. HC Wainwright raised their price objective on Perpetua Resources from $13.25 to $22.00 and gave the company a “buy” rating in a report 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 reaffirmed a “buy” rating and set a $15.00 price objective on shares of Perpetua Resources in a research note on Thursday, December 12th.

Insider Buying and Selling at Perpetua Resources

In other news, insider Alan Douglas Haslam sold 40,000 shares of Perpetua Resources stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $10.07, for a total value of $402,800.00. Following the sale, the insider now directly owns 65,571 shares of the company’s stock, valued at $660,299.97. The trade was a 37.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.90% of the company’s stock.

Institutional Trading of Perpetua Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in shares of Perpetua Resources by 232.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 57,158 shares of the company’s stock valued at $534,000 after buying an additional 39,954 shares during the period. Virtu Financial LLC lifted its holdings in Perpetua Resources by 43.6% in the third quarter. Virtu Financial LLC now owns 34,478 shares of the company’s stock valued at $322,000 after acquiring an additional 10,463 shares during the last quarter. Barclays PLC grew its position in Perpetua Resources by 63.4% in the third quarter. Barclays PLC now owns 74,119 shares of the company’s stock worth $694,000 after acquiring an additional 28,746 shares during the period. Geode Capital Management LLC increased its stake in Perpetua Resources by 0.5% during the third quarter. Geode Capital Management LLC now owns 484,829 shares of the company’s stock worth $4,533,000 after acquiring an additional 2,252 shares during the last quarter. Finally, Continuum Advisory LLC raised its position in Perpetua Resources by 500.0% in the third quarter. Continuum Advisory LLC now owns 4,800 shares of the company’s stock valued at $44,000 after purchasing an additional 4,000 shares during the period. 70.07% of the stock is owned by institutional investors and hedge funds.

Perpetua Resources Stock Performance

NASDAQ:PPTA opened at $11.20 on Friday. The stock has a 50 day moving average price of $10.51 and a 200 day moving average price of $8.58. The stock has a market cap of $785.86 million, a PE ratio of -50.91 and a beta of 0.22. Perpetua Resources has a one year low of $2.69 and a one year 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.