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

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $35.90.

A number of analysts have commented on PPTA shares. HC Wainwright reissued a “buy” rating and set a $43.50 price objective on shares of Perpetua Resources in a report on Tuesday, August 18th. Scotiabank initiated coverage on Perpetua Resources in a report on Tuesday, September 1st. They issued a “sector outperform” rating on the stock. B. Riley Financial initiated coverage on Perpetua Resources in a research report on Monday, August 3rd. They set a “buy” rating and a $30.00 target price on the stock. Zacks Research upgraded Perpetua Resources from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a research report on Friday, July 17th.

Institutional Trading of Perpetua Resources

Institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC bought a new position in shares of Perpetua Resources during the second quarter valued at about $41,000. NewEdge Advisors LLC boosted its holdings in Perpetua Resources by 0.7% during the second quarter. NewEdge Advisors LLC now owns 77,500 shares of the company’s stock worth $1,609,000 after purchasing an additional 525 shares during the last quarter. Compass Financial Management LLC bought a new stake in Perpetua Resources in the 2nd quarter worth about $29,000. Alyeska Investment Group L.P. grew its position in Perpetua Resources by 363.4% in the 2nd quarter. Alyeska Investment Group L.P. now owns 1,099,408 shares of the company’s stock worth $22,824,000 after purchasing an additional 862,143 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Perpetua Resources by 3,480.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 251,152 shares of the company’s stock valued at $5,214,000 after buying an additional 244,137 shares during the last quarter. Institutional investors own 70.07% of the company’s stock.

Perpetua Resources Price Performance

Shares of NASDAQ PPTA opened at $23.24 on Wednesday. The company has a 50-day moving average price of $22.40 and a 200-day moving average price of $25.39. The stock has a market capitalization of $2.91 billion, a P/E ratio of -11.50 and a beta of 0.15. Perpetua Resources has a 1 year low of $16.43 and a 1 year high of $37.37.

Perpetua Resources (NASDAQ:PPTA) last posted its earnings results on Friday, August 14th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.59). During the same period in the prior year, the business posted $0.08 EPS. As a group, equities research analysts anticipate that Perpetua Resources will post -2.16 earnings per share for the current fiscal year.

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.