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

Perpetua Resources Corp. (NASDAQ:PPTA) has been given an average recommendation of “Moderate Buy” by the six brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $35.90.

Several research firms have issued reports on PPTA. Zacks Research raised Perpetua Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. HC Wainwright reaffirmed a “buy” rating and set a $43.50 price objective on shares of Perpetua Resources in a research report on Tuesday, August 18th. B. Riley Financial began coverage on Perpetua Resources in a report on Monday, August 3rd. They set a “buy” rating and a $30.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a research report on Friday, July 17th.

Perpetua Resources Stock Performance

Shares of PPTA opened at $25.11 on Friday. The firm has a market cap of $3.14 billion, a P/E ratio of -12.43 and a beta of 0.09. Perpetua Resources has a twelve month low of $16.43 and a twelve month high of $37.37. The firm’s 50 day moving average price is $21.50 and its two-hundred day moving average price is $26.19.

Perpetua Resources (NASDAQ:PPTA) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.59). During the same period in the prior year, the company earned $0.08 EPS. On average, sell-side analysts anticipate that Perpetua Resources will post -2.16 earnings per share for the current fiscal year.

Institutional Trading of Perpetua Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in PPTA. Paulson & CO. Inc. bought a new stake in shares of Perpetua Resources in the second quarter worth $671,530,000. BlackRock Inc. bought a new position in Perpetua Resources in the second quarter valued at $110,181,000. JPMorgan Chase & Co. lifted its position in Perpetua Resources by 3,107.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,910,833 shares of the company’s stock worth $70,471,000 after buying an additional 2,820,067 shares in the last quarter. California State Teachers Retirement System lifted its position in Perpetua Resources by 1,916.0% during the 2nd quarter. California State Teachers Retirement System now owns 2,064,893 shares of the company’s stock worth $42,867,000 after buying an additional 1,962,467 shares in the last quarter. Finally, Alyeska Investment Group L.P. boosted its stake in shares of Perpetua Resources by 40.4% during the 3rd quarter. Alyeska Investment Group L.P. now owns 4,581,234 shares of the company’s stock worth $92,678,000 after buying an additional 1,318,008 shares during the last quarter. 70.07% of the stock is currently owned by institutional investors and hedge funds.

About Perpetua Resources

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. The company was formerly known as Midas Gold Corp. and changed its name to Perpetua Resources Corp.