Perpetua Resources (NASDAQ:PPTA) Rating Lowered to Strong Sell at Zacks Research

Perpetua Resources (NASDAQ:PPTA) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday, Zacks reports.

Several other research firms have also recently commented on PPTA. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Perpetua Resources in a research note on Thursday. HC Wainwright reissued a “buy” rating and set a $43.50 price target on shares of Perpetua Resources in a research note on Wednesday, September 30th. B. Riley Financial started coverage on Perpetua Resources in a report on Monday, August 3rd. They set a “buy” rating and a $30.00 price objective on the stock. Finally, Scotiabank assumed coverage on Perpetua Resources in a research note on Tuesday, September 1st. They issued a “sector outperform” rating for the company. Five investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.38.

Perpetua Resources Price Performance

NASDAQ:PPTA traded up $0.70 on Thursday, reaching $19.21. The stock had a trading volume of 1,492,919 shares, compared to its average volume of 1,035,332. The company has a market cap of $2.40 billion, a price-to-earnings ratio of -9.51 and a beta of 0.15. The firm’s fifty day moving average is $23.22 and its two-hundred day moving average is $24.23. Perpetua Resources has a 12-month low of $16.43 and a 12-month high of $37.37.

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

Institutional Investors Weigh In On Perpetua Resources

Institutional investors have recently bought and sold shares of the stock. Osterweis Capital Management Inc. acquired a new position in Perpetua Resources in the 2nd quarter worth $26,000. Compass Financial Management LLC acquired a new position in Perpetua Resources in the second quarter worth $29,000. Integrated Wealth Concepts LLC bought a new stake in shares of Perpetua Resources during the 2nd quarter valued at about $41,000. GK Wealth Management LLC acquired a new stake in shares of Perpetua Resources during the 3rd quarter worth approximately $66,000. Finally, FNY Investment Advisers LLC bought a new position in Perpetua Resources during the 2nd quarter worth $103,000. 70.07% of the stock is currently owned by hedge funds and other institutional investors.

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.