Perpetua Resources (NASDAQ:PPTA) Upgraded by Zacks Research to Hold Rating

Perpetua Resources (NASDAQ:PPTA) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other research firms have also recently commented on PPTA. B. Riley Financial boosted their target price on Perpetua Resources from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Perpetua Resources in a research report on Tuesday, April 21st. Finally, HC Wainwright boosted their target price on Perpetua Resources from $41.00 to $43.50 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.42.

Perpetua Resources Stock Down 1.1%

Perpetua Resources stock opened at $22.66 on Monday. Perpetua Resources has a 52 week low of $11.68 and a 52 week high of $37.37. The business has a 50-day simple moving average of $28.30 and a 200 day simple moving average of $28.60. The stock has a market cap of $2.83 billion and a price-to-earnings ratio of -17.17.

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

Insider Transactions at Perpetua Resources

In other news, insider Mckinsey Margaret Lyon sold 8,699 shares of the business’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $29.53, for a total value of $256,881.47. Following the completion of the sale, the insider 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. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathan Cherry sold 4,079 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $29.31, for a total value of $119,555.49. Following the transaction, the insider directly owned 44,895 shares of the company’s stock, valued at $1,315,872.45. The trade was a 8.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC bought a new position in shares of Perpetua Resources in the 4th quarter worth approximately $31,000. UMB Bank n.a. bought a new position in Perpetua Resources during the 4th quarter valued at approximately $36,000. Kestra Advisory Services LLC bought a new position in Perpetua Resources during the 4th quarter valued at approximately $40,000. Aventura Private Wealth LLC purchased a new stake in Perpetua Resources during the 4th quarter valued at $48,000. Finally, Pilgrim Partners Asia Pte Ltd boosted its stake in Perpetua Resources by 225.0% during the 4th quarter. Pilgrim Partners Asia Pte Ltd now owns 2,600 shares of the company’s stock valued at $63,000 after purchasing an additional 1,800 shares during the last quarter. Institutional investors 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.