Perpetua Resources Corp. (NASDAQ:PPTA) Stock Has Average Target Price of $37.38 According to Brokerages

Perpetua Resources Corp. (NASDAQ:PPTA) has received a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $37.38.

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a research note on Friday, July 17th. HC Wainwright reaffirmed a “buy” rating and issued a $43.50 price target on shares of Perpetua Resources in a research note on Wednesday, September 30th. B. Riley Financial assumed coverage on shares of Perpetua Resources in a report on Monday, August 3rd. They issued a “buy” rating and a $30.00 price target for the company. Finally, Scotiabank began coverage on shares of Perpetua Resources in a report on Tuesday, September 1st. They issued a “sector outperform” rating for the company.

Perpetua Resources Price Performance

Shares of Perpetua Resources stock opened at $19.35 on Friday. Perpetua Resources has a 1 year low of $16.43 and a 1 year high of $37.37. The business has a 50-day moving average of $23.53 and a two-hundred day moving average of $24.38. The company has a market capitalization of $2.42 billion, a P/E ratio of -9.58 and a beta of 0.15.

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

Institutional Investors Weigh In On Perpetua Resources

Institutional investors have recently added to or reduced their stakes in the stock. Paulson & CO. Inc. acquired a new position in Perpetua Resources in the 2nd quarter worth $671,530,000. BlackRock Inc. bought a new stake in shares of Perpetua Resources in the second quarter valued at about $110,181,000. Amundi lifted its holdings in shares of Perpetua Resources by 37.3% in the first quarter. Amundi now owns 1,384,758 shares of the company’s stock valued at $38,939,000 after purchasing an additional 375,962 shares in the last quarter. Alyeska Investment Group L.P. lifted its holdings in shares of Perpetua Resources by 363.4% in the second quarter. Alyeska Investment Group L.P. now owns 1,099,408 shares of the company’s stock valued at $22,824,000 after purchasing an additional 862,143 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Perpetua Resources during the second quarter worth about $15,128,000. 70.07% of the stock is owned by institutional investors.

About Perpetua Resources

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.