Perpetua Resources Corp. (NASDAQ:PPTA – Get Free Report) crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $20.79 and traded as high as $21.39. Perpetua Resources shares last traded at $21.16, with a volume of 1,930,991 shares trading hands.
Analysts Set New Price Targets
A number of research firms have recently weighed in on PPTA. 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 target price for the company. HC Wainwright restated a “buy” rating and set a $43.50 price target on shares of Perpetua Resources in a research report on Wednesday, September 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Perpetua Resources in a research report on Thursday, October 15th. Zacks Research cut Perpetua Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 15th. Finally, Scotiabank initiated coverage on Perpetua Resources in a research report on Tuesday, September 1st. They issued a “sector outperform” rating for the company. Three research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $36.75.
Read Our Latest Report on Perpetua Resources
Perpetua Resources Price Performance
The company has a market cap of $2.65 billion, a PE ratio of -10.48 and a beta of 0.24. The business has a 50 day moving average of $20.79 and a 200 day moving average of $25.12.
Perpetua Resources (NASDAQ:PPTA – Get Free Report) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.59). During the same period in the prior year, the firm earned $0.08 earnings per share. Sell-side analysts forecast that Perpetua Resources Corp. will post -2.16 EPS for the current fiscal year.
Institutional Investors Weigh In On Perpetua Resources
A number of hedge funds have recently modified their holdings of PPTA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Perpetua Resources by 3,480.2% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 251,152 shares of the company’s stock worth $5,214,000 after buying an additional 244,137 shares in the last quarter. Paulson & CO. Inc. bought a new stake in Perpetua Resources in the 2nd quarter valued at $671,530,000. Legal & General Group Plc bought a new stake in Perpetua Resources in the 2nd quarter valued at $1,532,000. Bank of New York Mellon Corp bought a new stake in Perpetua Resources in the 2nd quarter valued at $4,802,000. Finally, Royal Bank of Canada lifted its stake in Perpetua Resources by 24.1% in the 1st quarter. Royal Bank of Canada now owns 485,118 shares of the company’s stock worth $13,641,000 after purchasing an additional 94,302 shares in the last quarter. Institutional investors own 70.07% of the company’s stock.
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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