Perpetua Resources Corp. (NASDAQ:PPTA) Stock Rated “Hold” by Sell-Side Analysts

Perpetua Resources Corp. (NASDAQ:PPTA) has been given an average rating of “Hold” by the five ratings firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $36.75.

A number of analysts have recently weighed in on PPTA shares. Scotiabank assumed coverage on shares of Perpetua Resources in a report on Tuesday, September 1st. They issued a “sector outperform” rating on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $43.50 price target on shares of Perpetua Resources in a report on Wednesday, September 30th. Zacks Research lowered Perpetua Resources from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a research note on Thursday, October 15th. Finally, B. Riley Financial began coverage on 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 Down 2.0%

NASDAQ PPTA opened at $18.94 on Thursday. Perpetua Resources has a twelve month low of $15.66 and a twelve month high of $37.37. The business has a 50-day moving average price of $20.59 and a 200-day moving average price of $24.97. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of -9.38 and a beta of 0.24.

Perpetua Resources (NASDAQ:PPTA) last issued its earnings results on Friday, August 14th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.59). During the same period in the previous year, the company posted $0.08 EPS. Research analysts expect that Perpetua Resources will post -2.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Perpetua Resources

Several large investors have recently modified their holdings of PPTA. Public Sector Pension Investment Board boosted its position in shares of Perpetua Resources by 8.6% during the third quarter. Public Sector Pension Investment Board now owns 31,673 shares of the company’s stock valued at $683,000 after buying an additional 2,500 shares during the period. Global Retirement Partners LLC lifted its holdings in Perpetua Resources by 37.1% during the 3rd quarter. Global Retirement Partners LLC now owns 7,055 shares of the company’s stock valued at $152,000 after buying an additional 1,910 shares in the last quarter. Bessemer Group Inc. boosted its position in Perpetua Resources by 249,900.0% in the 3rd quarter. Bessemer Group Inc. now owns 5,000 shares of the company’s stock valued at $108,000 after buying an additional 4,998 shares during the period. Russell Investments Group Ltd. boosted its position in Perpetua Resources by 12.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 35,552 shares of the company’s stock valued at $767,000 after buying an additional 3,845 shares during the period. Finally, Capstone Wealth Management Group LLC bought a new position in Perpetua Resources in the 3rd quarter worth about $758,000. Institutional investors own 70.07% of the company’s stock.

About Perpetua Resources

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.