Perpetua Resources (NASDAQ:PPTA) Earns Buy Rating from Analysts at B. Riley Financial

B. Riley Financial initiated coverage on shares of Perpetua Resources (NASDAQ:PPTA) in a research note published on Monday morning, Marketbeat reports. The firm issued a buy rating and a $30.00 target price on the stock.

Several other analysts have also recently weighed in on the stock. Zacks Research upgraded shares of Perpetua Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. HC Wainwright lifted their price target on shares of Perpetua Resources from $41.00 to $43.50 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a research note on Friday, July 17th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.90.

Perpetua Resources Trading Up 10.9%

Perpetua Resources stock opened at $22.93 on Monday. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of -17.37 and a beta of 0.09. Perpetua Resources has a 12 month low of $16.28 and a 12 month high of $37.37. The stock’s 50 day moving average is $21.30 and its 200-day moving average is $26.87.

Perpetua Resources (NASDAQ:PPTA) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.21). As a group, equities research analysts predict that Perpetua Resources will post -1.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PPTA. Handelsbanken Fonder AB lifted its stake in Perpetua Resources by 30.9% during the second quarter. Handelsbanken Fonder AB now owns 37,700 shares of the company’s stock worth $783,000 after purchasing an additional 8,900 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Perpetua Resources during the 2nd quarter worth $103,000. Harbor Investment Advisory LLC lifted its position in shares of Perpetua Resources by 87.1% during the 2nd quarter. Harbor Investment Advisory LLC now owns 42,638 shares of the company’s stock worth $885,000 after buying an additional 19,844 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Perpetua Resources by 26.8% in the first quarter. Janus Henderson Group PLC now owns 39,250 shares of the company’s stock valued at $1,104,000 after buying an additional 8,300 shares in the last quarter. Finally, Amundi grew its position in 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 acquiring an additional 375,962 shares during the last quarter. 70.07% of the stock is owned by institutional investors.

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.