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

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) have been given an average rating of “Moderate Buy” by the eight analysts that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $35.4167.

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

Perpetua Resources Price Performance

Shares of NASDAQ:PPTA opened at $22.65 on Monday. The company’s 50 day moving average price is $28.42 and its two-hundred day moving average price is $28.61. Perpetua Resources has a 12-month low of $11.68 and a 12-month high of $37.37. The firm has a market cap of $2.83 billion and a PE ratio of -17.16.

Perpetua Resources (NASDAQ:PPTA) last announced its earnings results on Monday, May 11th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.21). On average, research analysts expect that Perpetua Resources will post -1.42 EPS for the current year.

Insider Activity at Perpetua Resources

In related news, insider Jonathan Cherry sold 4,079 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $29.31, for a total value of $119,555.49. Following the completion of the transaction, the insider owned 44,895 shares of the company’s stock, valued at $1,315,872.45. This represents a 8.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mckinsey Margaret Lyon sold 8,699 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $29.53, for a total transaction of $256,881.47. Following the completion of the transaction, the insider directly owned 142,329 shares of the company’s stock, valued at approximately $4,202,975.37. The trade was a 5.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Perpetua Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC bought a new position in shares of Perpetua Resources during the fourth quarter valued at $31,000. UMB Bank n.a. bought a new position in shares of Perpetua Resources during the fourth quarter valued at $36,000. Kestra Advisory Services LLC bought a new position in shares of Perpetua Resources during the fourth quarter valued at $40,000. Aventura Private Wealth LLC bought a new position in shares of Perpetua Resources during the fourth quarter valued at $48,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Perpetua Resources by 50.7% during the third quarter. Jones Financial Companies Lllp now owns 2,751 shares of the company’s stock valued at $58,000 after acquiring an additional 925 shares during the last quarter. Institutional investors 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.