Perpetua Resources (NASDAQ:PPTA) Earns “Buy” Rating from B. Riley

Perpetua Resources (NASDAQ:PPTA)‘s stock had its “buy” rating reissued by analysts at B. Riley in a report released on Wednesday, Marketbeat Ratings reports. They currently have a $17.00 price objective on the stock, up from their previous price objective of $16.00. B. Riley’s price target would indicate a potential upside of 26.68% from the stock’s current price.

Several other analysts also recently issued reports on PPTA. HC Wainwright reiterated a “buy” rating and issued a $27.50 price target on shares of Perpetua Resources in a report on Tuesday. National Bankshares reiterated an “outperform” rating on shares of Perpetua Resources in a report on Wednesday, April 2nd. Finally, National Bank Financial upgraded Perpetua Resources to a “strong-buy” rating in a report on Friday, March 21st. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $21.17.

Perpetua Resources Stock Up 2.7%

PPTA stock opened at $13.42 on Wednesday. The company has a market cap of $960.07 million, a price-to-earnings ratio of -46.28 and a beta of 0.02. The business has a fifty day simple moving average of $14.03 and a 200-day simple moving average of $11.96. Perpetua Resources has a 52 week low of $5.01 and a 52 week high of $17.96.

Perpetua Resources (NASDAQ:PPTA) last released its quarterly earnings data on Friday, May 9th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.07). As a group, analysts expect that Perpetua Resources will post -0.21 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Mckinsey Margaret Lyon sold 20,000 shares of the stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $11.00, for a total transaction of $220,000.00. Following the transaction, the insider now owns 89,154 shares of the company’s stock, valued at approximately $980,694. This trade represents a 18.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Stephen Wright sold 6,500 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $13.85, for a total transaction of $90,025.00. Following the transaction, the insider now directly owns 14,195 shares in the company, valued at $196,600.75. The trade was a 31.41% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Perpetua Resources

Large investors have recently modified their holdings of the stock. DLD Asset Management LP bought a new position in Perpetua Resources in the first quarter worth about $1,069,000. Rhumbline Advisers lifted its holdings in Perpetua Resources by 6.0% in the first quarter. Rhumbline Advisers now owns 64,688 shares of the company’s stock worth $692,000 after acquiring an additional 3,672 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Perpetua Resources by 1.7% in the first quarter. Goldman Sachs Group Inc. now owns 108,921 shares of the company’s stock worth $1,164,000 after acquiring an additional 1,835 shares during the last quarter. Millennium Management LLC lifted its holdings in Perpetua Resources by 219.0% in the first quarter. Millennium Management LLC now owns 1,181,899 shares of the company’s stock worth $12,634,000 after acquiring an additional 811,363 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Perpetua Resources by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,958 shares of the company’s stock worth $672,000 after acquiring an additional 2,680 shares during the last quarter. Institutional investors own 70.07% of the company’s stock.

Perpetua Resources Company Profile

Perpetua Resources Corp. engages in the exploration and development of mineral properties in the United States. The company primarily explores for gold, silver, and antimony deposits. Its principal asset is the 100% owned Stibnite Gold project, which includes 1,672 unpatented lode claims, mill sites, and patented land holdings covering an area of approximately 11,548 hectares located in Valley County, Idaho.