Perpetua Resources Corp. (NASDAQ:PPTA) Given Average Recommendation of “Buy” by Analysts

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) have received a consensus rating of “Buy” from the six analysts that are currently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $22.25.

Several equities research analysts have recently weighed in on the stock. Royal Bank Of Canada assumed coverage on shares of Perpetua Resources in a research report on Friday, July 18th. They set an “outperform” rating and a $23.00 price objective for the company. B. Riley reiterated a “buy” rating and set a $17.00 price objective (up from $16.00) on shares of Perpetua Resources in a research report on Wednesday, June 18th. National Bankshares reiterated an “outperform” rating on shares of Perpetua Resources in a research report on Wednesday, June 18th. Finally, HC Wainwright increased their target price on shares of Perpetua Resources from $27.50 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 15th.

Insider Buying and Selling at Perpetua Resources

In related news, insider Michael Stephen Wright sold 10,000 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $18.31, for a total transaction of $183,100.00. Following the transaction, the insider directly owned 14,195 shares of the company’s stock, valued at $259,910.45. This represents a 41.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Paulson & Co. Inc. bought 7,575,757 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The shares were bought at an average cost of $13.20 per share, for a total transaction of $99,999,992.40. Following the completion of the purchase, the insider owned 32,347,299 shares of the company’s stock, valued at $426,984,346.80. This represents a 30.58% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Lowe Wealth Advisors LLC bought a new position in shares of Perpetua Resources in the second quarter valued at $26,000. Steward Partners Investment Advisory LLC bought a new position in shares of Perpetua Resources during the second quarter valued at about $31,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Perpetua Resources during the second quarter valued at about $39,000. GAMMA Investing LLC lifted its position in shares of Perpetua Resources by 1,658.4% during the first quarter. GAMMA Investing LLC now owns 4,308 shares of the company’s stock valued at $46,000 after purchasing an additional 4,063 shares in the last quarter. Finally, North Capital Inc. bought a new position in shares of Perpetua Resources during the first quarter valued at about $53,000. 70.07% of the stock is owned by institutional investors.

Perpetua Resources Stock Up 2.0%

PPTA opened at $18.43 on Friday. Perpetua Resources has a twelve month low of $7.81 and a twelve month high of $19.75. The company has a fifty day moving average of $16.25 and a 200-day moving average of $13.63. The stock has a market cap of $1.98 billion and a PE ratio of -59.45.

Perpetua Resources (NASDAQ:PPTA) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.06. Sell-side analysts anticipate that Perpetua Resources will post -0.21 EPS for the current fiscal year.

About Perpetua Resources

Perpetua Resources Corp. engages in the exploration and development of mineral properties in the United States. The company primarily explores for gold, silver, and antimony deposits. Its principal asset is the 100% owned Stibnite Gold project, which includes 1,672 unpatented lode claims, mill sites, and patented land holdings covering an area of approximately 11,548 hectares located in Valley County, Idaho.