Perpetua Resources (NASDAQ:PPTA – Get Free Report) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.
Other equities research analysts have also issued research reports about the company. HC Wainwright upped their target price on Perpetua Resources from $41.00 to $43.50 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Perpetua Resources in a research note on Tuesday, April 21st. Finally, B. Riley Financial increased their price target on Perpetua Resources from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Six equities 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 company’s stock. According to data from MarketBeat, Perpetua Resources presently has a consensus rating of “Moderate Buy” and an average target price of $35.42.
Get Our Latest Analysis on PPTA
Perpetua Resources Stock Performance
Perpetua Resources (NASDAQ:PPTA – Get Free Report) last posted its earnings results on Monday, May 11th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.21). On average, research analysts predict that Perpetua Resources will post -1.42 earnings per share for the current year.
Insiders Place Their Bets
In other Perpetua Resources news, insider Jonathan Cherry sold 4,079 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $29.31, for a total transaction of $119,555.49. Following the transaction, the insider owned 44,895 shares of the company’s stock, valued at $1,315,872.45. This represents a 8.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Mckinsey Margaret Lyon sold 8,699 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $29.53, for a total value of $256,881.47. Following the transaction, the insider directly owned 142,329 shares in the company, valued at approximately $4,202,975.37. This represents a 5.76% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.57% of the company’s stock.
Institutional Trading of Perpetua Resources
A number of institutional investors and hedge funds have recently made changes to their positions in PPTA. JPMorgan Chase & Co. increased its holdings in shares of Perpetua Resources by 3,107.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,910,833 shares of the company’s stock worth $70,471,000 after buying an additional 2,820,067 shares during the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of Perpetua Resources by 40.4% during the 3rd 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. increased its holdings 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 last quarter. Van ECK Associates Corp increased its holdings in shares of Perpetua Resources by 53.4% during the 3rd quarter. Van ECK Associates Corp now owns 2,840,546 shares of the company’s stock worth $57,464,000 after buying an additional 989,090 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Perpetua Resources by 219.0% during the 1st quarter. Millennium Management LLC now owns 1,181,899 shares of the company’s stock worth $12,634,000 after buying an additional 811,363 shares during the last quarter. 70.07% of the stock is currently owned by institutional investors and hedge funds.
Perpetua Resources Company Profile
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.
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