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

Perpetua Resources Corp. (NASDAQ:PPTA) has received a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $35.4167.

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

Perpetua Resources Stock Performance

NASDAQ:PPTA opened at $19.80 on Friday. Perpetua Resources has a 52 week low of $13.31 and a 52 week high of $37.37. The firm has a 50-day moving average price of $24.90 and a two-hundred day moving average price of $28.08. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -15.00 and a beta of 0.05.

Perpetua Resources (NASDAQ:PPTA) last released its earnings results on Monday, May 11th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.21). As a group, sell-side analysts forecast that Perpetua Resources will post -1.42 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PPTA. AQR Capital Management LLC increased its stake in shares of Perpetua Resources by 12.6% during the 1st quarter. AQR Capital Management LLC now owns 15,909 shares of the company’s stock worth $170,000 after purchasing an additional 1,780 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Perpetua Resources by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,958 shares of the company’s stock valued at $672,000 after purchasing an additional 2,680 shares during the last quarter. Millennium Management LLC grew its holdings in Perpetua Resources by 219.0% during the first quarter. Millennium Management LLC now owns 1,181,899 shares of the company’s stock valued at $12,634,000 after purchasing an additional 811,363 shares during the period. Goldman Sachs Group Inc. grew its holdings in Perpetua Resources by 1.7% during the first quarter. Goldman Sachs Group Inc. now owns 108,921 shares of the company’s stock valued at $1,164,000 after purchasing an additional 1,835 shares during the period. Finally, Creative Planning purchased a new stake in Perpetua Resources in the second quarter worth $134,000. 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.