Perpetua Resources Corp. $PPTA Stock Holdings Trimmed by Empyrean Capital Partners LP

Empyrean Capital Partners LP reduced its position in Perpetua Resources Corp. (NASDAQ:PPTA) by 32.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,028,853 shares of the company’s stock after selling 489,100 shares during the period. Empyrean Capital Partners LP’s holdings in Perpetua Resources were worth $24,909,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alyeska Investment Group L.P. increased its holdings in Perpetua Resources by 40.4% in the third quarter. Alyeska Investment Group L.P. now owns 4,581,234 shares of the company’s stock valued at $92,678,000 after buying an additional 1,318,008 shares during the last quarter. Vanguard Group Inc. increased its holdings in Perpetua Resources by 65.1% in the fourth quarter. Vanguard Group Inc. now owns 3,157,670 shares of the company’s stock valued at $76,447,000 after buying an additional 1,245,630 shares during the last quarter. Van ECK Associates Corp increased its holdings in Perpetua Resources by 3.0% in the fourth quarter. Van ECK Associates Corp now owns 2,925,672 shares of the company’s stock valued at $70,831,000 after buying an additional 85,126 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Perpetua Resources by 3,107.0% in the fourth quarter. JPMorgan Chase & Co. now owns 2,910,833 shares of the company’s stock valued at $70,471,000 after buying an additional 2,820,067 shares during the last quarter. Finally, State Street Corp increased its holdings in Perpetua Resources by 12.1% in the fourth quarter. State Street Corp now owns 1,474,406 shares of the company’s stock valued at $35,695,000 after buying an additional 159,633 shares during the last quarter. 70.07% of the stock is owned by institutional investors.

Perpetua Resources Trading Down 3.4%

NASDAQ:PPTA opened at $24.90 on Thursday. The firm has a market capitalization of $3.11 billion and a PE ratio of -18.86. The stock has a 50 day moving average of $27.79 and a 200-day moving average of $28.63. Perpetua Resources Corp. has a 52 week low of $11.68 and a 52 week high of $37.37.

Perpetua Resources (NASDAQ:PPTA) last posted its earnings results on Monday, May 11th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.21). As a group, analysts predict that Perpetua Resources Corp. will post -1.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. B. Riley Financial upped their target price on Perpetua Resources from $30.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, March 18th. HC Wainwright upped their target price on Perpetua Resources from $41.00 to $43.50 and gave the company a “buy” rating in a report on Tuesday, May 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Perpetua Resources in a report on Tuesday, April 21st. Finally, Zacks Research raised Perpetua Resources from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.42.

Insider Activity at Perpetua Resources

In other news, insider Mckinsey Margaret Lyon sold 8,699 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $29.53, for a total transaction of $256,881.47. Following the completion of the transaction, the insider directly owned 142,329 shares in the company, valued at approximately $4,202,975.37. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jonathan Cherry sold 4,079 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $29.31, for a total value of $119,555.49. Following the transaction, the insider owned 44,895 shares of the company’s stock, valued at approximately $1,315,872.45. This represents a 8.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.57% of the stock is currently owned by corporate insiders.

Perpetua Resources Company Profile

Perpetua Resources Inc (NASDAQ: PPTA), formerly known as eCobalt Solutions Inc, is a mineral exploration and development company focused on critical metals that support the global clean-energy transition. The company’s primary objective is to advance its flagship Idaho Cobalt Project, a permitted underground mine located near Stibnite, Idaho. This project is designed to produce cobalt, copper, gold and silver, with an emphasis on providing responsibly sourced materials to North American battery and technology markets.

In addition to its Idaho Cobalt Project, Perpetua Resources holds exploration licenses and mineral tenures across the United States and Canada.