Brokerages Set Perpetua Resources Corp. (NASDAQ:PPTA) PT at $29.00

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) have received a consensus rating of “Buy” from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $29.00.

A number of equities analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Perpetua Resources from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Perpetua Resources in a report on Tuesday, September 23rd. Zacks Research upgraded Perpetua Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Roth Capital set a $32.00 target price on Perpetua Resources and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Finally, B. Riley reissued a “buy” rating on shares of Perpetua Resources in a report on Thursday, October 30th.

Insider Activity

In other news, insider Jonathan Cherry sold 14,911 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $23.72, for a total value of $353,688.92. Following the transaction, the insider directly owned 36,249 shares of the company’s stock, valued at $859,826.28. This represents a 29.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Stephen Wright sold 10,000 shares of Perpetua Resources stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $18.31, for a total transaction of $183,100.00. Following the sale, the insider directly owned 14,195 shares of the company’s stock, valued at $259,910.45. The trade was a 41.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Perpetua Resources

Institutional investors have recently modified their holdings of the business. Paulson & CO. Inc. boosted its holdings in Perpetua Resources by 30.6% in the 2nd quarter. Paulson & CO. Inc. now owns 32,347,299 shares of the company’s stock valued at $392,696,000 after purchasing an additional 7,575,757 shares during the period. Encompass Capital Advisors LLC increased its holdings in Perpetua Resources by 145.0% in the 2nd quarter. Encompass Capital Advisors LLC now owns 3,608,369 shares of the company’s stock valued at $43,806,000 after buying an additional 2,135,478 shares during the period. Alyeska Investment Group L.P. raised its position in shares of Perpetua Resources by 40.4% in the 3rd quarter. Alyeska Investment Group L.P. now owns 4,581,234 shares of the company’s stock valued at $92,678,000 after buying an additional 1,318,008 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Perpetua Resources by 165.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,912,040 shares of the company’s stock worth $38,685,000 after acquiring an additional 1,192,744 shares during the period. Finally, Monaco Asset Management SAM bought a new position in Perpetua Resources in the second quarter valued at approximately $12,662,000. Institutional investors own 70.07% of the company’s stock.

Perpetua Resources Price Performance

Shares of NASDAQ:PPTA opened at $22.13 on Thursday. The company’s 50-day moving average price is $22.50 and its two-hundred day moving average price is $17.86. Perpetua Resources has a one year low of $7.81 and a one year high of $31.65. The stock has a market capitalization of $2.70 billion, a PE ratio of -44.26 and a beta of 0.02.

Perpetua Resources (NASDAQ:PPTA) last posted its quarterly earnings results on Friday, November 14th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.23). On average, analysts anticipate that Perpetua Resources will post -0.21 earnings per share for the current fiscal year.

Perpetua Resources Company Profile

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.