Perpetua Resources Corp. (NASDAQ:PPTA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) have received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $35.4167.

PPTA has been the topic of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a research note on Tuesday, April 21st. HC Wainwright increased their price objective on shares of Perpetua Resources from $41.00 to $43.50 and gave the company a “buy” rating in a research note on Tuesday, May 26th. B. Riley Financial raised their target price on shares of Perpetua Resources from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, March 18th. Finally, Zacks Research upgraded shares of Perpetua Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th.

Perpetua Resources Stock Performance

NASDAQ PPTA opened at $24.09 on Monday. The firm’s 50 day moving average price is $28.02 and its 200-day moving average price is $28.58. Perpetua Resources has a 52-week low of $11.68 and a 52-week high of $37.37. The company has a market cap of $3.01 billion and a PE ratio of -18.25.

Perpetua Resources (NASDAQ:PPTA) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.21). On average, analysts forecast that Perpetua Resources will post -1.42 earnings per share for the current fiscal year.

Insider Activity at Perpetua Resources

In other Perpetua Resources news, insider Jonathan Cherry sold 4,079 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $29.31, for a total value of $119,555.49. Following the completion of the sale, the insider directly owned 44,895 shares in the company, valued at $1,315,872.45. This trade represents a 8.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mckinsey Margaret Lyon sold 8,699 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $29.53, for a total transaction of $256,881.47. Following the completion of the sale, the insider owned 142,329 shares of the company’s stock, valued at approximately $4,202,975.37. This trade represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On Perpetua Resources

Several institutional investors have recently bought and sold shares of PPTA. Smartleaf Asset Management LLC acquired a new stake in Perpetua Resources in the fourth quarter valued at approximately $31,000. UMB Bank n.a. purchased a new position in shares of Perpetua Resources in the fourth quarter worth $36,000. Kestra Advisory Services LLC purchased a new position in shares of Perpetua Resources in the fourth quarter worth $40,000. Aventura Private Wealth LLC purchased a new position in shares of Perpetua Resources in the fourth quarter worth $48,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Perpetua Resources by 50.7% in the third quarter. Jones Financial Companies Lllp now owns 2,751 shares of the company’s stock worth $58,000 after buying an additional 925 shares during the last quarter. 70.07% of the stock is currently owned by institutional investors and hedge funds.

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.