Bank of New York Mellon Corp Cuts Stock Holdings in Perpetua Resources Corp. (NASDAQ:PPTA)

Bank of New York Mellon Corp cut its stake in shares of Perpetua Resources Corp. (NASDAQ:PPTA) by 3.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 81,357 shares of the company’s stock after selling 3,164 shares during the period. Bank of New York Mellon Corp’s holdings in Perpetua Resources were worth $868,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Intech Investment Management LLC acquired a new position in Perpetua Resources in the third quarter valued at $98,000. Quantbot Technologies LP purchased a new position in shares of Perpetua Resources in the 3rd quarter worth about $123,000. PEAK6 Investments LLC acquired a new position in shares of Perpetua Resources in the 3rd quarter valued at about $243,000. State Street Corp grew its holdings 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 worth $5,549,000 after purchasing an additional 48,220 shares during the period. Finally, Wolverine Trading LLC acquired a new stake in Perpetua Resources during the 3rd quarter worth approximately $241,000. 70.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PPTA shares. Roth Mkm lifted their price target on shares of Perpetua Resources from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. HC Wainwright lifted their target price on shares of Perpetua Resources from $25.00 to $28.00 and gave the company a “buy” rating in a report on Friday, March 21st. Finally, National Bank Financial upgraded Perpetua Resources to a “strong-buy” rating in a report on Friday, March 21st.

Insider Buying and Selling at Perpetua Resources

In other news, insider Mckinsey Margaret Lyon sold 22,710 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $8.82, for a total transaction of $200,302.20. Following the completion of the sale, the insider now owns 89,154 shares of the company’s stock, valued at approximately $786,338.28. This trade represents a 20.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alan Douglas Haslam sold 10,400 shares of Perpetua Resources stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $9.24, for a total transaction of $96,096.00. Following the completion of the sale, the insider now owns 65,763 shares of the company’s stock, valued at approximately $607,650.12. This trade represents a 13.65 % decrease in their position. The disclosure for this sale can be found here. Insiders bought a total of 20,230 shares of company stock valued at $166,582 in the last ninety days. Insiders own 1.90% of the company’s stock.

Perpetua Resources Stock Up 0.4 %

NASDAQ PPTA opened at $11.20 on Wednesday. Perpetua Resources Corp. has a fifty-two week low of $4.02 and a fifty-two week high of $13.23. The business has a 50 day moving average price of $10.54 and a two-hundred day moving average price of $10.32. The stock has a market cap of $787.82 million, a PE ratio of -50.91 and a beta of 0.27.

Perpetua Resources (NASDAQ:PPTA) last announced its earnings results on Wednesday, March 19th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.03. Sell-side analysts anticipate that Perpetua Resources Corp. will post -0.21 EPS for the current fiscal year.

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.