Perpetua Resources (NASDAQ:PPTA) Reaches New 1-Year High – What’s Next?

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) reached a new 52-week high on Monday . The stock traded as high as $35.97 and last traded at $34.8840, with a volume of 336592 shares traded. The stock had previously closed at $34.50.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. BMO Capital Markets set a $44.00 price objective on shares of Perpetua Resources in a research note on Tuesday, October 28th. Wall Street Zen lowered shares of Perpetua Resources from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Zacks Research raised Perpetua Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. B. Riley reaffirmed a “buy” rating on shares of Perpetua Resources in a report on Thursday, October 30th. Finally, Roth Mkm set a $32.00 price objective on Perpetua Resources and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $30.67.

Perpetua Resources Trading Down 3.8%

The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of -66.43 and a beta of 0.03. The firm has a 50-day moving average of $27.11 and a 200 day moving average of $22.29.

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, research analysts forecast that Perpetua Resources Corp. will post -0.21 EPS for the current year.

Insider Activity at Perpetua Resources

In other Perpetua Resources news, Director Jeffrey L. Malmen sold 5,000 shares of the stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $26.57, for a total transaction of $132,850.00. Following the transaction, the director directly owned 14,319 shares in the company, valued at $380,455.83. This represents a 25.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Alan Dean sold 2,400 shares of the business’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $27.14, for a total transaction of $65,136.00. Following the completion of the sale, the director directly owned 22,302 shares of the company’s stock, valued at $605,276.28. The trade was a 9.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 78,017 shares of company stock worth $2,084,188 in the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Perpetua Resources

Several institutional investors and hedge funds have recently made changes to their positions in PPTA. AQR Capital Management LLC boosted its holdings in Perpetua Resources by 12.6% in the first quarter. AQR Capital Management LLC now owns 15,909 shares of the company’s stock worth $170,000 after purchasing an additional 1,780 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Perpetua Resources by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,958 shares of the company’s stock valued at $672,000 after buying an additional 2,680 shares during the period. Millennium Management LLC grew its position in shares of Perpetua Resources by 219.0% during the 1st quarter. Millennium Management LLC now owns 1,181,899 shares of the company’s stock valued at $12,634,000 after buying an additional 811,363 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Perpetua Resources by 1.7% during the first quarter. Goldman Sachs Group Inc. now owns 108,921 shares of the company’s stock worth $1,164,000 after acquiring an additional 1,835 shares during the period. Finally, Sowell Financial Services LLC acquired a new stake in Perpetua Resources during the second quarter worth about $121,000. 70.07% of the stock is owned by institutional investors and hedge funds.

About Perpetua Resources

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.