Empyrean Capital Partners LP Sells 188,853 Shares of Perpetua Resources Corp. $PPTA

Empyrean Capital Partners LP cut its position in shares of Perpetua Resources Corp. (NASDAQ:PPTA) by 18.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 840,000 shares of the company’s stock after selling 188,853 shares during the quarter. Empyrean Capital Partners LP’s holdings in Perpetua Resources were worth $23,621,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC acquired a new position in Perpetua Resources in the fourth quarter valued at $31,000. UMB Bank n.a. acquired a new stake in Perpetua Resources during the 4th quarter worth about $36,000. Kestra Advisory Services LLC acquired a new stake in Perpetua Resources during the 4th quarter worth about $40,000. Pilgrim Partners Asia Pte Ltd raised its position in shares of Perpetua Resources by 225.0% in the 4th quarter. Pilgrim Partners Asia Pte Ltd now owns 2,600 shares of the company’s stock worth $63,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in shares of Perpetua Resources in the 4th quarter worth about $63,000. Institutional investors own 70.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PPTA. Zacks Research raised Perpetua Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Perpetua Resources in a research note on Friday, July 17th. Finally, HC Wainwright lifted their target price on Perpetua Resources from $41.00 to $43.50 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.90.

Perpetua Resources Stock Up 2.2%

Shares of NASDAQ PPTA opened at $18.24 on Tuesday. The firm has a market cap of $2.28 billion, a PE ratio of -13.82 and a beta of 0.05. Perpetua Resources Corp. has a 12-month low of $14.69 and a 12-month high of $37.37. The company’s fifty day simple moving average is $22.26 and its 200 day simple moving average is $27.42.

Perpetua Resources (NASDAQ:PPTA) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.21). On average, equities analysts predict that Perpetua Resources Corp. will post -1.42 earnings per share for the current year.

About Perpetua Resources

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.