Perpetua Resources Corp. (NASDAQ:PPTA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Perpetua Resources Corp. (NASDAQ:PPTA) has received an average recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $37.90.

A number of brokerages recently weighed in on PPTA. HC Wainwright upped their price objective on Perpetua Resources from $41.00 to $43.50 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a report on Friday, July 17th. Finally, Zacks Research upgraded shares of Perpetua Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th.

Perpetua Resources Trading Down 2.6%

Shares of PPTA opened at $18.41 on Tuesday. The stock’s 50 day moving average is $21.61 and its two-hundred day moving average is $27.12. Perpetua Resources has a twelve month low of $14.69 and a twelve month high of $37.37. The firm has a market capitalization of $2.30 billion, a PE ratio of -13.95 and a beta of 0.05.

Perpetua Resources (NASDAQ:PPTA) last issued 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, sell-side analysts predict that Perpetua Resources will post -1.42 EPS for the current year.

Institutional Trading of Perpetua Resources

Hedge funds and other institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc boosted its holdings in Perpetua Resources by 0.8% during the fourth quarter. IFP Advisors Inc now owns 50,405 shares of the company’s stock worth $1,220,000 after buying an additional 405 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Perpetua Resources by 21.0% in the fourth quarter. Farther Finance Advisors LLC now owns 3,123 shares of the company’s stock valued at $76,000 after buying an additional 541 shares in the last quarter. Benjamin Edwards Inc. increased its holdings in Perpetua Resources by 0.5% in the fourth quarter. Benjamin Edwards Inc. now owns 102,645 shares of the company’s stock valued at $2,485,000 after buying an additional 543 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Perpetua Resources by 4.6% in the second quarter. Tower Research Capital LLC TRC now owns 15,872 shares of the company’s stock valued at $193,000 after buying an additional 697 shares in the last quarter. Finally, Continuum Advisory LLC lifted its position in shares of Perpetua Resources by 8.5% during the 1st quarter. Continuum Advisory LLC now owns 12,736 shares of the company’s stock valued at $358,000 after acquiring an additional 994 shares during the period. Institutional investors and hedge funds own 70.07% of the company’s stock.

Perpetua Resources Company Profile

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.