Perpetua Resources Corp. (NASDAQ:PPTA) Stock Has Consensus Price Target of $36.75 According to Brokerages

Perpetua Resources Corp. (NASDAQ:PPTA) has earned a consensus recommendation of “Hold” from the five ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating and three have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $36.75.

PPTA has been the topic of several analyst reports. Zacks Research lowered shares of Perpetua Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, October 15th. B. Riley Financial began coverage on shares of Perpetua Resources in a research report on Monday, August 3rd. They set a “buy” rating and a $30.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a research note on Thursday, October 15th. Scotiabank started coverage on shares of Perpetua Resources in a research note on Tuesday, September 1st. They issued a “sector outperform” rating on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $43.50 price target on shares of Perpetua Resources in a research report on Wednesday, September 30th.

Perpetua Resources Stock Up 8.3%

PPTA stock opened at $21.16 on Thursday. Perpetua Resources has a fifty-two week low of $15.66 and a fifty-two week high of $37.37. The firm’s 50-day simple moving average is $20.79 and its 200 day simple moving average is $25.12. The stock has a market cap of $2.65 billion, a PE ratio of -10.48 and a beta of 0.24.

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

Hedge Funds Weigh In On Perpetua Resources

A number of hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC raised its stake in Perpetua Resources by 0.7% during the 2nd quarter. NewEdge Advisors LLC now owns 77,500 shares of the company’s stock valued at $1,609,000 after acquiring an additional 525 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Perpetua Resources by 6.3% during the 1st quarter. Cetera Investment Advisers now owns 17,646 shares of the company’s stock valued at $496,000 after purchasing an additional 1,052 shares in the last quarter. Osterweis Capital Management Inc. acquired a new position in Perpetua Resources in the second quarter worth approximately $26,000. Compass Financial Management LLC acquired a new position in shares of Perpetua Resources in the 2nd quarter worth $29,000. Finally, Signaturefd LLC increased its stake in Perpetua Resources by 3,120.4% in the 3rd quarter. Signaturefd LLC now owns 1,739 shares of the company’s stock worth $38,000 after purchasing an additional 1,685 shares in the last quarter. 70.07% of the stock is owned by institutional investors and hedge funds.

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.