Perpetua Resources’ (PPTA) Sell (D-) Rating Reiterated at Weiss Ratings

Perpetua Resources (NASDAQ:PPTA)‘s stock had its “sell (d-)” rating reaffirmed by research analysts at Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

A number of other research analysts also recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Perpetua Resources in a research note on Tuesday, September 23rd. Royal Bank Of Canada began coverage on Perpetua Resources in a research note on Friday, July 18th. They set an “outperform” rating and a $23.00 price target on the stock. B. Riley upped their price target on Perpetua Resources from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Wall Street Zen downgraded Perpetua Resources from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Finally, UBS Group set a $30.00 price target on Perpetua Resources in a research note on Thursday, October 9th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $28.57.

Perpetua Resources Price Performance

Shares of Perpetua Resources stock opened at $23.30 on Friday. Perpetua Resources has a one year low of $7.81 and a one year high of $31.65. The stock’s 50-day moving average is $20.51 and its 200 day moving average is $16.52. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of -75.16 and a beta of 0.01.

Perpetua Resources (NASDAQ:PPTA) last announced its earnings results on Wednesday, August 13th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.06. On average, sell-side analysts expect that Perpetua Resources will post -0.21 EPS for the current fiscal year.

Insider Activity at Perpetua Resources

In other news, insider Michael Stephen Wright sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $18.31, for a total value of $183,100.00. Following the completion of the sale, the insider directly owned 14,195 shares of the company’s stock, valued at $259,910.45. This represents a 41.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jonathan Cherry sold 14,911 shares of the stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $23.72, for a total value of $353,688.92. Following the completion of the sale, the insider directly owned 36,249 shares of the company’s stock, valued at approximately $859,826.28. This trade represents a 29.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Perpetua Resources

A number of institutional investors and hedge funds have recently modified their holdings of PPTA. Paulson & CO. Inc. increased its position in shares of Perpetua Resources by 30.6% during the second quarter. Paulson & CO. Inc. now owns 32,347,299 shares of the company’s stock valued at $392,696,000 after acquiring an additional 7,575,757 shares during the last quarter. Encompass Capital Advisors LLC increased its position in shares of Perpetua Resources by 145.0% during the second quarter. Encompass Capital Advisors LLC now owns 3,608,369 shares of the company’s stock valued at $43,806,000 after acquiring an additional 2,135,478 shares during the last quarter. Monaco Asset Management SAM purchased a new stake in shares of Perpetua Resources during the second quarter valued at approximately $12,662,000. Fourth Sail Capital LP purchased a new stake in shares of Perpetua Resources during the second quarter valued at approximately $12,185,000. Finally, Millennium Management LLC grew its holdings in Perpetua Resources by 219.0% during the first quarter. Millennium Management LLC now owns 1,181,899 shares of the company’s stock valued at $12,634,000 after purchasing an additional 811,363 shares during the period. 70.07% of the stock is owned by hedge funds and other institutional investors.

About Perpetua Resources

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.