Brokerages Set Perpetua Resources Corp. (NASDAQ:PPTA) Price Target at $35.42

Shares of Perpetua Resources Corp. (NASDAQ:PPTA – Get Free Report) have been given a consensus rating of “Moderate Buy” by the seven research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $35.4167.

A number of analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Perpetua Resources in a research note on Tuesday, April 21st. Zacks Research raised shares of Perpetua Resources from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. B. Riley Financial raised their price objective on shares of Perpetua Resources from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Finally, 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 report on Tuesday, May 26th.

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Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. lifted its holdings in shares of 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 in the last quarter. Vanguard Group Inc. raised its stake in Perpetua Resources by 65.1% in the 4th quarter. Vanguard Group Inc. now owns 3,157,670 shares of the company’s stock worth $76,447,000 after purchasing an additional 1,245,630 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Perpetua Resources by 3.0% in the 4th quarter. Van ECK Associates Corp now owns 2,925,672 shares of the company’s stock valued at $70,831,000 after purchasing an additional 85,126 shares during the period. JPMorgan Chase & Co. boosted its holdings in 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 purchasing an additional 2,820,067 shares during the period. Finally, State Street Corp grew its position in shares of Perpetua Resources by 12.1% during the 4th quarter. State Street Corp now owns 1,474,406 shares of the company’s stock worth $35,695,000 after purchasing an additional 159,633 shares in the last quarter. 70.07% of the stock is owned by institutional investors and hedge funds.

Perpetua Resources Trading Down 5.4%

Shares of NASDAQ PPTA opened at $19.99 on Friday. The company has a market capitalization of $2.50 billion, a P/E ratio of -15.14 and a beta of 0.05. Perpetua Resources has a 12 month low of $12.20 and a 12 month high of $37.37. The stock has a 50 day moving average of $25.24 and a 200-day moving average of $28.19.

Perpetua Resources (NASDAQ:PPTA – Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.21). Analysts predict that Perpetua Resources will post -1.42 EPS for the current fiscal year.

About Perpetua Resources

(Get Free Report)

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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