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

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. HC Wainwright increased their target price 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. Roth Mkm reaffirmed a “buy” rating and set a $15.00 price target on shares of Perpetua Resources in a research note on Thursday, December 12th.

Insider Activity at Perpetua Resources

In related news, insider Alan Douglas Haslam sold 40,000 shares of the company’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 $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 is available at the SEC website. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Continuum Advisory LLC lifted its holdings in Perpetua Resources by 500.0% during the third quarter. Continuum Advisory LLC now owns 4,800 shares of the company’s stock worth $44,000 after acquiring an additional 4,000 shares during the period. Intech Investment Management LLC purchased a new stake in Perpetua Resources during the third quarter worth about $98,000. Quantbot Technologies LP bought a new stake in Perpetua Resources in the third quarter worth about $123,000. American Century Companies Inc. purchased a new position in Perpetua Resources in the second quarter valued at about $124,000. Finally, SG Americas Securities LLC bought a new position in shares of Perpetua Resources during the 3rd quarter valued at approximately $125,000. Hedge funds and other institutional investors own 70.07% of the company’s stock.

Perpetua Resources Price Performance

NASDAQ:PPTA opened at $12.77 on Tuesday. Perpetua Resources has a one year low of $2.69 and a one year high of $13.23. The company has a market cap of $896.11 million, a PE ratio of -58.05 and a beta of 0.19. The firm has a 50-day moving average of $10.63 and a 200-day moving average of $8.78.

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.