Analysts Set Perpetua Resources Corp. (NASDAQ:PPTA) Price Target at $35.90

Perpetua Resources Corp. (NASDAQ:PPTA – Get Free Report) has earned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $35.90.

A number of equities analysts recently issued reports on the stock. Zacks Research raised shares of Perpetua Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Perpetua Resources in a report on Friday, July 17th. B. Riley Financial assumed coverage on shares of Perpetua Resources in a research report on Monday, August 3rd. They set a “buy” rating and a $30.00 target price on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $43.50 target price on shares of Perpetua Resources in a research note on Tuesday, August 18th.

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Institutional Investors Weigh In On Perpetua Resources

A number of institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its stake in shares of Perpetua Resources by 12.6% in the 1st quarter. AQR Capital Management LLC now owns 15,909 shares of the company’s stock valued at $170,000 after purchasing an additional 1,780 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Perpetua Resources by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,958 shares of the company’s stock worth $672,000 after buying an additional 2,680 shares during the period. Millennium Management LLC lifted its position 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 period. Goldman Sachs Group Inc. lifted its position in shares of Perpetua Resources by 1.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 108,921 shares of the company’s stock worth $1,164,000 after buying an additional 1,835 shares during the period. Finally, Creative Planning acquired a new stake in Perpetua Resources in the 2nd quarter valued at $134,000. 70.07% of the stock is owned by institutional investors and hedge funds.

Perpetua Resources Stock Up 0.9%

NASDAQ:PPTA opened at $25.93 on Friday. Perpetua Resources has a 12 month low of $16.43 and a 12 month high of $37.37. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of -12.84 and a beta of 0.09. The company’s 50 day moving average is $21.41 and its 200-day moving average is $26.22.

Perpetua Resources (NASDAQ:PPTA – Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.59). During the same period last year, the business posted $0.08 EPS. Research analysts predict that Perpetua Resources will post -2.16 EPS for the current fiscal year.

About Perpetua Resources

(Get Free Report)

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.

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