Perpetua Resources (NASDAQ:PPTA) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Perpetua Resources (NASDAQ:PPTA) from a strong sell rating to a hold rating in a report released on Monday morning,Zacks.com reports.

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

Perpetua Resources Stock Down 1.1%

NASDAQ PPTA opened at $22.66 on Monday. The company has a market cap of $2.83 billion and a PE ratio of -17.17. Perpetua Resources has a 52 week low of $11.68 and a 52 week high of $37.37. The firm’s 50-day simple moving average is $28.30 and its two-hundred day simple moving average is $28.60.

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

Insider Activity

In other news, insider Mckinsey Margaret Lyon sold 8,699 shares of the company’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $29.53, for a total transaction of $256,881.47. Following the sale, the insider directly owned 142,329 shares in the company, valued at $4,202,975.37. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jonathan Cherry sold 4,079 shares of the company’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $29.31, for a total value of $119,555.49. Following the sale, the insider owned 44,895 shares in the company, valued at approximately $1,315,872.45. This represents a 8.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC bought a new position in shares of Perpetua Resources in the fourth quarter worth approximately $31,000. UMB Bank n.a. bought a new position in shares of Perpetua Resources in the fourth quarter worth approximately $36,000. Kestra Advisory Services LLC bought a new position in shares of Perpetua Resources in the fourth quarter worth approximately $40,000. Aventura Private Wealth LLC bought a new position in shares of Perpetua Resources in the fourth quarter worth approximately $48,000. Finally, Jones Financial Companies Lllp increased its position in shares of Perpetua Resources by 50.7% in the third quarter. Jones Financial Companies Lllp now owns 2,751 shares of the company’s stock worth $58,000 after purchasing an additional 925 shares during the last quarter. 70.07% of the stock is currently owned by institutional investors.

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.