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

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) have been assigned an average rating of “Buy” from the nine ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $30.6667.

PPTA has been the subject of several recent analyst reports. UBS Group set a $30.00 price objective on shares of Perpetua Resources in a research report on Thursday, October 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a research report on Thursday, January 22nd. Roth Mkm set a $32.00 price objective on shares of Perpetua Resources and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Zacks Research upgraded Perpetua Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Finally, BMO Capital Markets set a $44.00 price target on Perpetua Resources in a research note on Tuesday, October 28th.

Perpetua Resources Price Performance

Shares of NASDAQ:PPTA opened at $27.39 on Tuesday. The business’s 50 day simple moving average is $28.13 and its 200 day simple moving average is $22.99. Perpetua Resources has a 1 year low of $7.81 and a 1 year high of $35.97. The company has a market capitalization of $3.40 billion, a P/E ratio of -54.78 and a beta of 0.03.

Perpetua Resources (NASDAQ:PPTA) last released its earnings results on Friday, November 14th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.23). On average, sell-side analysts anticipate that Perpetua Resources will post -0.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other Perpetua Resources news, Director Robert Alan Dean sold 2,400 shares of Perpetua Resources stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $27.14, for a total value of $65,136.00. Following the transaction, the director owned 22,302 shares in the company, valued at $605,276.28. The trade was a 9.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeffrey L. Malmen sold 5,000 shares of the stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $26.57, for a total transaction of $132,850.00. Following the completion of the transaction, the director directly owned 14,319 shares of the company’s stock, valued at $380,455.83. This trade represents a 25.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 78,017 shares of company stock valued at $2,084,188. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of Perpetua Resources

Hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its stake in shares of Perpetua Resources by 12.6% during the first quarter. AQR Capital Management LLC now owns 15,909 shares of the company’s stock worth $170,000 after buying an additional 1,780 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Perpetua Resources by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,958 shares of the company’s stock valued at $672,000 after acquiring an additional 2,680 shares in the last quarter. Millennium Management LLC grew its position in Perpetua Resources by 219.0% during the 1st quarter. Millennium Management LLC now owns 1,181,899 shares of the company’s stock worth $12,634,000 after acquiring an additional 811,363 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Perpetua Resources by 1.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 108,921 shares of the company’s stock worth $1,164,000 after purchasing an additional 1,835 shares in the last quarter. Finally, KLP Kapitalforvaltning AS raised its position in Perpetua Resources by 70.5% in the second quarter. KLP Kapitalforvaltning AS now owns 15,000 shares of the company’s stock valued at $182,000 after purchasing an additional 6,200 shares during the last quarter. Institutional investors and hedge funds own 70.07% of the company’s stock.

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.