Perpetua Resources (NASDAQ:PPTA) Stock Price Expected to Rise, B. Riley Financial Analyst Says

Perpetua Resources (NASDAQ:PPTA) had its price objective increased by research analysts at B. Riley Financial from $30.00 to $40.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley Financial’s price target suggests a potential upside of 50.32% from the stock’s current price.

PPTA has been the topic of several other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a research note on Thursday, January 22nd. HC Wainwright raised their price objective on Perpetua Resources from $30.00 to $41.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Perpetua Resources Trading Down 6.8%

PPTA stock opened at $26.61 on Wednesday. The stock has a market cap of $3.32 billion, a P/E ratio of -53.22 and a beta of -0.03. Perpetua Resources has a twelve month low of $8.84 and a twelve month high of $37.37. The company’s 50 day moving average is $31.21 and its two-hundred day moving average is $26.07.

Insider Buying and Selling at Perpetua Resources

In related news, Director Robert Alan Dean sold 6,490 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $27.55, for a total value of $178,799.50. Following the transaction, the director owned 23,510 shares in the company, valued at $647,700.50. The trade was a 21.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mckinsey Margaret Lyon sold 43,722 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $27.57, for a total value of $1,205,415.54. Following the sale, the insider directly owned 132,110 shares of the company’s stock, valued at approximately $3,642,272.70. This represents a 24.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 121,739 shares of company stock valued at $3,289,604. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Y Intercept Hong Kong Ltd raised its stake in shares of Perpetua Resources by 73.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 101,353 shares of the company’s stock worth $2,050,000 after buying an additional 43,086 shares in the last quarter. TD Asset Management Inc purchased a new stake in shares of Perpetua Resources in the third quarter valued at approximately $2,648,000. Benjamin Edwards Inc. acquired a new position in Perpetua Resources during the third quarter worth $2,066,000. CIBC Asset Management Inc purchased a new position in Perpetua Resources in the third quarter worth $1,239,000. Finally, Hohimer Wealth Management LLC acquired a new stake in Perpetua Resources in the third quarter valued at $1,812,000. 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.