Perpetua Resources Corp. (NASDAQ:PPTA) Receives $35.00 Consensus Target Price from Analysts

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) have been given an average rating of “Moderate Buy” by the eight research firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating and six have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $35.00.

Several equities analysts have issued reports on PPTA shares. B. Riley Financial lifted their price target on shares of Perpetua Resources from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Zacks Research cut Perpetua Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Perpetua Resources in a research note on Tuesday, April 21st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $41.00 target price on shares of Perpetua Resources in a research report on Wednesday, April 8th.

Insider Transactions at Perpetua Resources

In other Perpetua Resources news, insider Jonathan Cherry sold 4,079 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $29.31, for a total transaction of $119,555.49. Following the sale, the insider owned 44,895 shares of the company’s stock, valued at approximately $1,315,872.45. The trade was a 8.33% decrease in their position. The transaction 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 company’s 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 transaction, the insider owned 142,329 shares in the company, valued at $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 currently owned by insiders.

Institutional Investors Weigh In On Perpetua Resources

Institutional investors and hedge funds have recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd raised its position in Perpetua Resources by 73.9% during the third quarter. Y Intercept Hong Kong Ltd now owns 101,353 shares of the company’s stock valued at $2,050,000 after acquiring an additional 43,086 shares in the last quarter. TD Asset Management Inc purchased a new stake in Perpetua Resources in the 3rd quarter worth approximately $2,648,000. CIBC Asset Management Inc acquired a new stake in shares of Perpetua Resources during the 3rd quarter worth approximately $1,239,000. Hohimer Wealth Management LLC acquired a new stake in shares of Perpetua Resources during the 3rd quarter worth approximately $1,812,000. Finally, Citigroup Inc. increased its holdings in shares of Perpetua Resources by 462.8% during the 3rd quarter. Citigroup Inc. now owns 157,599 shares of the company’s stock valued at $3,190,000 after purchasing an additional 129,594 shares in the last quarter. 70.07% of the stock is currently owned by institutional investors and hedge funds.

Perpetua Resources Price Performance

Shares of PPTA stock opened at $27.51 on Thursday. Perpetua Resources has a 1-year low of $11.68 and a 1-year high of $37.37. The stock’s 50-day moving average is $29.15 and its 200 day moving average is $28.33. The company has a market cap of $3.44 billion, a P/E ratio of -20.84 and a beta of 0.02.

Perpetua Resources (NASDAQ:PPTA) last announced its earnings results on Monday, May 11th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.21). On average, analysts anticipate that Perpetua Resources will post -1.54 EPS for the current year.

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.