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

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) have received an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $35.90.

A number of brokerages recently weighed in on PPTA. HC Wainwright restated a “buy” rating and set a $43.50 price objective on shares of Perpetua Resources in a research report on Tuesday, August 18th. Scotiabank started coverage on shares of Perpetua Resources in a report on Tuesday, September 1st. They issued a “sector outperform” rating on the stock. Zacks Research upgraded shares of Perpetua Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a research note on Friday, July 17th. Finally, B. Riley Financial initiated coverage on shares of Perpetua Resources in a research report on Monday, August 3rd. They set a “buy” rating and a $30.00 price objective on the stock.

Perpetua Resources Stock Performance

Shares of Perpetua Resources stock opened at $24.76 on Wednesday. Perpetua Resources has a 52-week low of $16.43 and a 52-week high of $37.37. The stock has a market capitalization of $3.10 billion, a PE ratio of -12.26 and a beta of 0.15. The company has a 50-day simple moving average of $22.62 and a two-hundred day simple moving average of $25.25.

Perpetua Resources (NASDAQ:PPTA) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.59). During the same quarter last year, the company earned $0.08 earnings per share. As a group, equities research analysts forecast that Perpetua Resources will post -2.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Perpetua Resources

Several hedge funds have recently modified their holdings of the business. Paulson & CO. Inc. purchased a new stake in shares of Perpetua Resources during the 2nd quarter worth $671,530,000. BlackRock Inc. acquired a new stake in Perpetua Resources during the second quarter valued at $110,181,000. Amundi raised its position in shares of Perpetua Resources by 37.3% in the first quarter. Amundi now owns 1,384,758 shares of the company’s stock valued at $38,939,000 after buying an additional 375,962 shares during the last quarter. Alyeska Investment Group L.P. raised its holdings in shares of Perpetua Resources by 363.4% during the 2nd quarter. Alyeska Investment Group L.P. now owns 1,099,408 shares of the company’s stock worth $22,824,000 after acquiring an additional 862,143 shares during the period. Finally, Capital World Investors purchased a new stake in shares of Perpetua Resources during the 4th quarter valued at approximately $19,639,000. Hedge funds and other institutional investors own 70.07% of the company’s stock.

Perpetua Resources Company Profile

Perpetua Resources Corp. is a mineral development company focused on advancing the Stibnite Gold Project in central Idaho. The project is designed to produce gold and antimony, a critical mineral used in defense applications, energy technologies, flame retardants and other industrial products. The company is pursuing the project through its U.S. subsidiary, Stibnite Gold Project LLC.

The Stibnite Gold Project is located in the historic Stibnite-Yellow Pine mining district. Perpetua’s activities include permitting, engineering, environmental studies and project development, as well as planning for the restoration of legacy environmental impacts associated with earlier mining in the area.