Gold prices edge higher on raised Fed rate cut hopes
Alan Douglas Haslam, Vice President of Permitting at Perpetua Resources Idaho, Inc., a subsidiary of Perpetua Resources Corp. (NASDAQ:PPTA), recently sold 10,400 common shares of the company. The shares were sold at a weighted average price of $9.24 per share, totaling approximately $96,096. This transaction was executed to cover tax withholding obligations related to the settlement of Restricted Share Units (RSUs) that vested earlier in February. Following the sale, Haslam retains ownership of 65,763 shares in the company. The sale comes as PPTA’s stock has declined over 10% in the past week, with shares currently trading at $8.35. InvestingPro analysis indicates the stock is trading above its Fair Value, with analyst price targets ranging from $16 to $25.
Additionally, Haslam acquired 15,886 Restricted Share Units, which were settled as common shares. These RSUs are part of the company’s Omnibus Equity Incentive Plan and will vest in equal parts over the next three years. Post-transaction, Haslam’s total shareholding stands at 67,252 shares. With a market capitalization of $583 million and a FAIR financial health rating from InvestingPro, the company maintains strong liquidity with a current ratio of 2.31. Track insider transactions and access 10+ additional ProTips by subscribing to InvestingPro.
In other recent news, Perpetua Resources has received significant approval from the United States Forest Service for its Stibnite Gold Project in Idaho. This pivotal decision allows the company to proceed with its mine plan, which aims to extract substantial reserves of gold and antimony. The project is expected to produce approximately 450,000 ounces of gold annually in its first four years and fulfill about 35% of the U.S. demand for antimony during its initial six years. H.C. Wainwright has responded to these developments by raising its price target for Perpetua Resources to $25.00 while maintaining a Buy rating. National Bank also maintains an outperform rating, highlighting the project’s potential to become a significant domestic source of antimony. Additionally, Perpetua Resources has announced a collaboration with U.S. Antimony Corporation to test antimony concentrate, aiming to establish a domestic antimony supply chain. This collaboration underscores the project’s strategic importance in reducing reliance on foreign sources for critical minerals. As the company moves forward, it focuses on securing necessary permits and financing to advance to the construction phase.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.