Perpetua Resources (NASDAQ:PPTA – Get Free Report) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Thursday, Zacks reports.
A number of other equities research analysts have also recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a research report on Thursday. Scotiabank initiated coverage on shares of Perpetua Resources in a research note on Tuesday, September 1st. They issued a “sector outperform” rating for the company. B. Riley Financial initiated coverage on Perpetua Resources in a research note on Monday, August 3rd. They issued a “buy” rating and a $30.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $43.50 price target on shares of Perpetua Resources in a research report on Wednesday, September 30th. Five research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Perpetua Resources has a consensus rating of “Hold” and an average target price of $37.38.
Check Out Our Latest Research Report on PPTA
Perpetua Resources Price Performance
Shares of NASDAQ:PPTA traded up $0.70 during mid-day trading on Thursday, reaching $19.21. 1,492,919 shares of the company were exchanged, compared to its average volume of 1,035,332. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of -9.51 and a beta of 0.15. Perpetua Resources has a 1 year low of $16.43 and a 1 year high of $37.37. The firm’s 50-day simple moving average is $23.22 and its 200 day simple moving average is $24.23.
Perpetua Resources (NASDAQ:PPTA – Get Free Report) last released its earnings results on Friday, August 14th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.59). During the same quarter in the previous year, the firm posted $0.08 earnings per share. On average, research analysts forecast that Perpetua Resources will post -2.16 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Perpetua Resources
Hedge funds and other institutional investors have recently bought and sold shares of the business. Paulson & CO. Inc. acquired a new stake in shares of Perpetua Resources in the 2nd quarter valued at about $671,530,000. BlackRock Inc. acquired a new position in Perpetua Resources during the 2nd quarter valued at approximately $110,181,000. Amundi grew its position in shares of Perpetua Resources by 37.3% during the first quarter. Amundi now owns 1,384,758 shares of the company’s stock worth $38,939,000 after acquiring an additional 375,962 shares during the last quarter. Alyeska Investment Group L.P. increased its stake in shares of Perpetua Resources by 363.4% in the second quarter. Alyeska Investment Group L.P. now owns 1,099,408 shares of the company’s stock valued at $22,824,000 after purchasing an additional 862,143 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Perpetua Resources in the 2nd quarter valued at approximately $15,128,000. 70.07% of the stock is currently owned by hedge funds and other institutional investors.
Perpetua Resources Company Profile
Perpetua Resources Corp. is a mineral development company focused on advancing the Stibnite Gold Project in central Idaho. The project is designed to produce gold and antimony, a critical mineral used in defense applications, energy technologies, flame retardants and other industrial products. The company is pursuing the project through its U.S. subsidiary, Stibnite Gold Project LLC.
The Stibnite Gold Project is located in the historic Stibnite-Yellow Pine mining district. Perpetua’s activities include permitting, engineering, environmental studies and project development, as well as planning for the restoration of legacy environmental impacts associated with earlier mining in the area.
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