Perpetua Resources Corp. (NASDAQ:PPTA) Receives $32.50 Average PT from Brokerages

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) have earned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $32.50.

A number of research firms recently issued reports on PPTA. HC Wainwright boosted their target price on shares of Perpetua Resources from $30.00 to $41.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a report on Thursday, January 22nd.

Perpetua Resources Price Performance

NASDAQ:PPTA traded down $0.23 during midday trading on Friday, hitting $32.18. The company’s stock had a trading volume of 1,266,536 shares, compared to its average volume of 1,602,441. Perpetua Resources has a fifty-two week low of $8.06 and a fifty-two week high of $37.37. The firm has a market cap of $4.01 billion, a P/E ratio of -64.36 and a beta of -0.03. The firm’s 50 day moving average is $30.39 and its 200-day moving average is $25.27.

Insider Activity

In other news, Director Robert Alan Dean sold 6,490 shares of the stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $27.55, for a total transaction of $178,799.50. Following the sale, the director directly owned 23,510 shares of the company’s stock, valued at $647,700.50. This represents a 21.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeffrey L. Malmen sold 10,181 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $26.34, for a total value of $268,167.54. Following the completion of the sale, the director directly 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 disclosure for this sale is available in the SEC filing. Insiders sold 121,739 shares of company stock valued at $3,289,604 in the last quarter. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Perpetua Resources

Institutional investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC acquired a new position in Perpetua Resources during the second quarter worth $31,000. Smartleaf Asset Management LLC purchased a new position in shares of Perpetua Resources in the fourth quarter valued at approximately $31,000. Private Trust Co. NA acquired a new stake in shares of Perpetua Resources in the third quarter worth approximately $35,000. UMB Bank n.a. acquired a new stake in shares of Perpetua Resources in the fourth quarter worth approximately $36,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Perpetua Resources during the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 70.07% of the company’s stock.

Perpetua Resources Company Profile

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.