Perpetua Resources Corp. (NASDAQ:PPTA) Receives $35.90 Average Target Price from Analysts

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $35.90.

A number of equities research analysts recently weighed in on the company. Scotiabank assumed coverage on Perpetua Resources in a report on Tuesday, September 1st. They set a “sector outperform” rating for the company. Zacks Research raised Perpetua Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. HC Wainwright restated a “buy” rating and set a $43.50 target price on shares of Perpetua Resources in a report on Tuesday, August 18th. B. Riley Financial assumed coverage on Perpetua Resources in a research note on Monday, August 3rd. They issued a “buy” rating and a $30.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Perpetua Resources in a report on Friday, July 17th.

Institutional Investors Weigh In On Perpetua Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Paulson & CO. Inc. bought a new position in shares of Perpetua Resources in the second quarter worth about $671,530,000. BlackRock Inc. bought a new stake in shares of Perpetua Resources during the second quarter valued at approximately $110,181,000. Amundi increased its holdings in shares of 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 purchasing an additional 375,962 shares in the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of Perpetua Resources by 363.4% in the second quarter. Alyeska Investment Group L.P. now owns 1,099,408 shares of the company’s stock valued at $22,824,000 after purchasing an additional 862,143 shares in the last quarter. Finally, Capital World Investors bought a new position in Perpetua Resources in the 4th quarter worth approximately $19,639,000. Institutional investors and hedge funds own 70.07% of the company’s stock.

Perpetua Resources Trading Down 0.6%

NASDAQ PPTA opened at $23.24 on Wednesday. Perpetua Resources has a 1-year low of $16.43 and a 1-year high of $37.37. The company has a 50 day moving average of $22.40 and a 200-day moving average of $25.48. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of -11.50 and a beta of 0.15.

Perpetua Resources (NASDAQ:PPTA) last announced its earnings results on Friday, August 14th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.59). During the same period last year, the business earned $0.08 earnings per share. On average, analysts forecast that Perpetua Resources will post -2.16 earnings per share for the current year.

About Perpetua Resources

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.