Zacks Investment Research Downgrades Perpetua Resources (NASDAQ:PPTA) to Hold

Perpetua Resources (NASDAQ:PPTAGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits principally in the Stibnite-Yellow Pine district of central Idaho which are encompassed by the Stibnite Gold Project. Perpetua Resources Corp., formerly known as Midas Gold Corp., is based in BOISE, ID. “

Separately, HC Wainwright decreased their target price on shares of Perpetua Resources from $12.25 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, March 9th.

Perpetua Resources stock opened at $3.37 on Thursday. Perpetua Resources has a 52-week low of $2.94 and a 52-week high of $9.42. The firm has a fifty day moving average of $3.86 and a 200-day moving average of $4.16. The firm has a market capitalization of $212.27 million, a P/E ratio of -5.11 and a beta of 1.08.

Perpetua Resources (NASDAQ:PPTAGet Rating) last released its quarterly earnings data on Friday, March 18th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.04). Sell-side analysts forecast that Perpetua Resources will post -0.53 earnings per share for the current fiscal year.

In other Perpetua Resources news, Director Chris J. Robison bought 7,000 shares of the company’s stock in a transaction on Thursday, March 3rd. The shares were bought at an average cost of $3.80 per share, with a total value of $26,600.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Chris J. Robison bought 10,000 shares of the company’s stock in a transaction on Monday, May 16th. The shares were acquired at an average cost of $3.08 per share, for a total transaction of $30,800.00. Following the completion of the acquisition, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $123,200. The disclosure for this purchase can be found here. Insiders have acquired a total of 19,000 shares of company stock worth $65,580 over the last quarter. 0.94% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC acquired a new stake in shares of Perpetua Resources in the 4th quarter worth about $37,000. Citigroup Inc. increased its holdings in shares of Perpetua Resources by 207.3% in the 4th quarter. Citigroup Inc. now owns 9,387 shares of the company’s stock worth $45,000 after acquiring an additional 6,332 shares during the period. Invesco Ltd. acquired a new stake in shares of Perpetua Resources in the 4th quarter worth about $48,000. Advisor Group Holdings Inc. increased its holdings in shares of Perpetua Resources by 458.4% in the 4th quarter. Advisor Group Holdings Inc. now owns 10,598 shares of the company’s stock worth $50,000 after acquiring an additional 8,700 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Perpetua Resources in the 1st quarter worth about $58,000. 64.02% of the stock is currently owned by institutional investors and hedge funds.

Perpetua Resources Company Profile (Get Rating)

Perpetua Resources Corp. engages in the mineral exploration activities in the United States. The company primarily explores for gold, silver, and antimony. Its principal asset is the 100% owned Stibnite gold project located in Valley County, Idaho. The company was formerly known as Midas Gold Corp. and changed its name to Perpetua Resources Corp.

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