Perpetua Resources Corp. (NASDAQ:PPTA) Given Consensus Rating of “Buy” by Brokerages

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) have received an average rating of “Buy” from the nine analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $30.6667.

A number of research firms recently weighed in on PPTA. BMO Capital Markets set a $44.00 price target on shares of Perpetua Resources in a research report on Tuesday, October 28th. B. Riley restated a “buy” rating on shares of Perpetua Resources in a report on Thursday, October 30th. Roth Capital set a $32.00 price target on Perpetua Resources and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded Perpetua Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th.

Insider Activity at Perpetua Resources

In other news, Director Jeffrey L. Malmen sold 10,181 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $26.34, for a total value of $268,167.54. Following the completion of the transaction, the director owned 19,319 shares of the company’s stock, valued at $508,862.46. The trade was a 34.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alexander Mcleod Sternhell sold 10,148 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $26.50, for a total value of $268,922.00. Following the sale, the director owned 19,352 shares in the company, valued at $512,828. This trade represents a 34.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 78,017 shares of company stock worth $2,084,188. 1.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PPTA. Paulson & CO. Inc. grew its stake 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 in the last quarter. Alyeska Investment Group L.P. raised its stake in 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 acquiring an additional 1,318,008 shares during the period. Encompass Capital Advisors LLC lifted its holdings in shares of Perpetua Resources by 145.0% in the 2nd quarter. Encompass Capital Advisors LLC now owns 3,608,369 shares of the company’s stock worth $43,806,000 after purchasing an additional 2,135,478 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Perpetua Resources by 53.4% during the third quarter. Van ECK Associates Corp now owns 2,840,546 shares of the company’s stock valued at $57,464,000 after acquiring an additional 989,090 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Perpetua Resources by 165.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,912,040 shares of the company’s stock valued at $38,685,000 after purchasing an additional 1,192,744 shares during the period. 70.07% of the stock is owned by institutional investors and hedge funds.

Perpetua Resources Price Performance

PPTA stock opened at $31.32 on Friday. Perpetua Resources has a 12 month low of $7.81 and a 12 month high of $32.50. The company has a market capitalization of $3.88 billion, a P/E ratio of -62.64 and a beta of 0.03. The firm’s fifty day simple moving average is $25.85 and its 200-day simple moving average is $21.30.

Perpetua Resources (NASDAQ:PPTA) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.23). As a group, sell-side analysts forecast that Perpetua Resources will post -0.21 earnings per share for the current year.

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.