Perpetua Resources (NASDAQ:PPTA) Price Target Raised to $40.00

Perpetua Resources (NASDAQ:PPTA) had its price objective raised by B. Riley Financial from $30.00 to $40.00 in a research report released on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts have also issued reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of Perpetua Resources in a research report on Thursday, January 22nd. HC Wainwright upped their price objective on Perpetua Resources from $30.00 to $41.00 and gave the company a “buy” rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Perpetua Resources Stock Performance

PPTA opened at $24.99 on Wednesday. The company has a fifty day moving average price of $31.12 and a two-hundred day moving average price of $26.11. Perpetua Resources has a 52 week low of $8.84 and a 52 week high of $37.37. The firm has a market capitalization of $3.12 billion, a PE ratio of -49.98 and a beta of -0.03.

Insiders Place Their Bets

In other news, Director Robert Alan Dean sold 6,490 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $27.55, for a total transaction of $178,799.50. Following the sale, the director owned 23,510 shares of the company’s stock, valued at $647,700.50. This trade represents a 21.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alexander Mcleod Sternhell sold 10,148 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $26.50, for a total value of $268,922.00. Following the sale, the director directly owned 19,352 shares in the company, valued at approximately $512,828. This represents a 34.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 121,739 shares of company stock valued at $3,289,604. Insiders own 1.50% of the company’s stock.

Institutional Trading of Perpetua Resources

A number of large investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC bought a new position in Perpetua Resources in the fourth quarter valued at approximately $31,000. UMB Bank n.a. bought a new stake in shares of Perpetua Resources during the fourth quarter worth $36,000. Kestra Advisory Services LLC bought a new stake in shares of Perpetua Resources during the fourth quarter worth $40,000. Private Trust Co. NA acquired a new stake in shares of Perpetua Resources during the third quarter worth $35,000. Finally, Aventura Private Wealth LLC acquired a new stake in shares of Perpetua Resources during the fourth quarter worth $48,000. 70.07% of the stock is owned by institutional investors.

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.