Paulson & CO. Inc. Takes $671.53 Million Position in Perpetua Resources Corp. $PPTA

Paulson & CO. Inc. purchased a new position in Perpetua Resources Corp. (NASDAQ:PPTA) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 32,347,299 shares of the company’s stock, valued at approximately $671,530,000. Perpetua Resources comprises approximately 26.1% of Paulson & CO. Inc.’s investment portfolio, making the stock its 2nd largest position. Paulson & CO. Inc. owned 25.86% of Perpetua Resources at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PPTA. BlackRock Inc. acquired a new position in Perpetua Resources in the second quarter valued at about $110,181,000. Alyeska Investment Group L.P. boosted its holdings in Perpetua Resources by 40.4% during the third quarter. Alyeska Investment Group L.P. now owns 4,581,234 shares of the company’s stock worth $92,678,000 after buying an additional 1,318,008 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Perpetua Resources by 65.1% during the 4th quarter. Vanguard Group Inc. now owns 3,157,670 shares of the company’s stock worth $76,447,000 after buying an additional 1,245,630 shares during the period. Van ECK Associates Corp grew its position in shares of Perpetua Resources by 3.0% during the 4th quarter. Van ECK Associates Corp now owns 2,925,672 shares of the company’s stock worth $70,831,000 after buying an additional 85,126 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Perpetua Resources by 3,107.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,910,833 shares of the company’s stock valued at $70,471,000 after acquiring an additional 2,820,067 shares during the last quarter. 70.07% of the stock is owned by institutional investors and hedge funds.

Perpetua Resources Trading Up 4.2%

NASDAQ:PPTA opened at $27.02 on Wednesday. Perpetua Resources Corp. has a 1 year low of $16.43 and a 1 year high of $37.37. The stock has a 50-day moving average price of $21.43 and a two-hundred day moving average price of $26.21. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of -13.38 and a beta of 0.09.

Perpetua Resources (NASDAQ:PPTA) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.59). During the same period in the prior year, the business earned $0.08 earnings per share. Sell-side analysts forecast that Perpetua Resources Corp. will post -2.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $43.50 price target on shares of Perpetua Resources in a research report on Tuesday, August 18th. Zacks Research upgraded shares of Perpetua Resources from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. B. Riley Financial started coverage on shares of Perpetua Resources in a research note on Monday, August 3rd. They issued a “buy” rating and a $30.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a report on Friday, July 17th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $35.90.

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