Perpetua Resources Corp. (NASDAQ:PPTA) Given Consensus Recommendation of “Moderate Buy” by Analysts

Perpetua Resources Corp. (NASDAQ:PPTA) has been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation 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.

A number of equities research analysts have recently issued reports on PPTA shares. HC Wainwright upped their price objective on shares of Perpetua Resources from $30.00 to $41.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. B. Riley Financial lifted their target price on shares of Perpetua Resources from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a research note on Thursday, January 22nd.

Insider Buying and Selling

In other Perpetua Resources news, Director Jeffrey L. Malmen sold 10,181 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $26.34, for a total value of $268,167.54. Following the completion of the sale, the director owned 19,319 shares in the company, valued at approximately $508,862.46. The trade was a 34.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alexander Mcleod Sternhell sold 10,148 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $26.50, for a total value of $268,922.00. Following the sale, the director directly owned 19,352 shares of the company’s stock, valued at approximately $512,828. This trade represents a 34.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 110,249 shares of company stock worth $2,979,254 in the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Perpetua Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Paulson & CO. Inc. grew its holdings in Perpetua Resources by 30.6% in the 2nd quarter. Paulson & CO. Inc. now owns 32,347,299 shares of the company’s stock worth $392,696,000 after acquiring an additional 7,575,757 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Perpetua Resources by 3,107.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,910,833 shares of the company’s stock valued at $70,471,000 after acquiring an additional 2,820,067 shares during the last quarter. Encompass Capital Advisors LLC boosted its holdings in shares of Perpetua Resources by 145.0% during the second quarter. Encompass Capital Advisors LLC now owns 3,608,369 shares of the company’s stock worth $43,806,000 after purchasing an additional 2,135,478 shares during the period. Alyeska Investment Group L.P. boosted its holdings in shares of Perpetua Resources by 40.4% during the third quarter. Alyeska Investment Group L.P. now owns 4,581,234 shares of the company’s stock worth $92,678,000 after purchasing an additional 1,318,008 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Perpetua Resources by 65.1% in the fourth quarter. Vanguard Group Inc. now owns 3,157,670 shares of the company’s stock worth $76,447,000 after purchasing an additional 1,245,630 shares during the last quarter. 70.07% of the stock is currently owned by institutional investors.

Perpetua Resources Price Performance

Shares of NASDAQ PPTA opened at $26.46 on Wednesday. The stock has a market capitalization of $3.30 billion, a P/E ratio of -52.92 and a beta of -0.03. Perpetua Resources has a one year low of $8.84 and a one year high of $37.37. The firm’s 50 day simple moving average is $30.53 and its two-hundred day simple moving average is $26.49.

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.