Quantbot Technologies LP Makes New Investment in Perpetua Resources Corp. $PPTA

Quantbot Technologies LP purchased a new stake in Perpetua Resources Corp. (NASDAQ:PPTA) during the 2nd quarter, HoldingsChannel reports. The fund purchased 23,413 shares of the company’s stock, valued at approximately $486,000.

A number of other large investors have also recently modified their holdings of PPTA. Donald Smith & CO. Inc. purchased a new position in shares of Perpetua Resources during the second quarter worth about $2,245,000. BlackRock Inc. purchased a new stake in Perpetua Resources in the second quarter valued at approximately $110,181,000. Deutsche Bank AG bought a new stake in Perpetua Resources during the second quarter valued at approximately $8,905,000. Global Retirement Partners LLC purchased a new position in Perpetua Resources in the 2nd quarter worth approximately $107,000. Finally, Alberta Investment Management Corp purchased a new position in Perpetua Resources in the second quarter worth $436,000. Institutional investors own 70.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. B. Riley Financial began coverage on Perpetua Resources in a research report on Monday, August 3rd. They set a “buy” rating and a $30.00 price target on the stock. Zacks Research upgraded Perpetua Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a research report on Friday, July 17th. Finally, HC Wainwright restated a “buy” rating and issued a $43.50 target price on shares of Perpetua Resources in a research report on Tuesday, August 18th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. 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 Price Performance

Shares of PPTA stock opened at $25.11 on Friday. The business has a 50-day moving average of $21.50 and a 200 day moving average of $26.19. Perpetua Resources Corp. has a 1-year low of $16.43 and a 1-year high of $37.37. The stock has a market capitalization of $3.14 billion, a PE ratio of -12.43 and a beta of 0.09.

Perpetua Resources (NASDAQ:PPTA) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.59). During the same quarter last year, the firm earned $0.08 EPS. Analysts anticipate that Perpetua Resources Corp. will post -2.16 EPS for the current 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. The company was formerly known as Midas Gold Corp. and changed its name to Perpetua Resources Corp.