Tidal Investments LLC Sells 465,327 Shares of Perpetua Resources Corp. $PPTA

Tidal Investments LLC cut its holdings in shares of Perpetua Resources Corp. (NASDAQ:PPTA) by 8.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,894,757 shares of the company’s stock after selling 465,327 shares during the quarter. Tidal Investments LLC’s holdings in Perpetua Resources were worth $101,615,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Osterweis Capital Management Inc. purchased a new position in shares of Perpetua Resources in the second quarter worth about $26,000. Compass Financial Management LLC bought a new stake in shares of Perpetua Resources in the second quarter valued at approximately $29,000. Smartleaf Asset Management LLC purchased a new stake in shares of Perpetua Resources during the 4th quarter valued at approximately $31,000. UMB Bank n.a. purchased a new stake in shares of Perpetua Resources during the 4th quarter valued at approximately $36,000. Finally, Kestra Advisory Services LLC bought a new position in Perpetua Resources in the 4th quarter worth approximately $40,000. 70.07% of the stock is owned by hedge funds and other institutional investors.

Perpetua Resources Stock Performance

Shares of NASDAQ:PPTA opened at $24.76 on Thursday. The company has a 50 day moving average of $22.01 and a 200 day moving average of $25.91. The stock has a market cap of $3.10 billion, a P/E ratio of -12.26 and a beta of 0.15. Perpetua Resources Corp. has a 12 month low of $16.43 and a 12 month high of $37.37.

Perpetua Resources (NASDAQ:PPTA) last posted its earnings results on Friday, August 14th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.59). During the same period last year, the firm posted $0.08 EPS. On average, equities analysts forecast that Perpetua Resources Corp. will post -2.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

PPTA has been the subject of a number of recent research reports. Zacks Research upgraded shares of Perpetua Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. HC Wainwright restated a “buy” rating and set a $43.50 target price on shares of Perpetua Resources in a research report on Tuesday, August 18th. B. Riley Financial began coverage on Perpetua Resources in a report on Monday, August 3rd. They issued a “buy” rating and a $30.00 price target for the company. Scotiabank started coverage on Perpetua Resources in a research note on Tuesday, September 1st. They set a “sector outperform” rating on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a report on Friday, July 17th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Perpetua Resources presently has an average rating of “Moderate Buy” and a consensus target price of $35.90.

Perpetua Resources 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. The company was formerly known as Midas Gold Corp. and changed its name to Perpetua Resources Corp.