Perpetua Resources Corp. (NASDAQ:PPTA) Receives $21.63 Consensus Target Price from Brokerages

Perpetua Resources Corp. (NASDAQ:PPTA) has been assigned a consensus rating of “Buy” from the six research firms that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $21.6250.

Several equities research analysts have weighed in on the company. B. Riley reiterated a “buy” rating and issued a $17.00 price objective (up previously from $16.00) on shares of Perpetua Resources in a report on Wednesday, June 18th. HC Wainwright reiterated a “buy” rating and issued a $27.50 price objective on shares of Perpetua Resources in a report on Tuesday, June 17th. Royal Bank Of Canada assumed coverage on Perpetua Resources in a research report on Friday, July 18th. They issued an “outperform” rating and a $23.00 target price for the company. Finally, National Bankshares reissued an “outperform” rating on shares of Perpetua Resources in a research report on Wednesday, June 18th.

Perpetua Resources Stock Up 2.9%

Perpetua Resources stock opened at $17.53 on Tuesday. Perpetua Resources has a 52 week low of $6.70 and a 52 week high of $18.04. The business has a 50-day simple moving average of $14.92 and a 200 day simple moving average of $12.89. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -56.55 and a beta of -0.02.

Perpetua Resources (NASDAQ:PPTA) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06. On average, research analysts anticipate that Perpetua Resources will post -0.21 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Paulson & Co. Inc. acquired 7,575,757 shares of Perpetua Resources stock in a transaction that occurred on Monday, June 16th. The stock was bought at an average price of $13.20 per share, with a total value of $99,999,992.40. Following the transaction, the insider directly owned 32,347,299 shares in the company, valued at approximately $426,984,346.80. This represents a 30.58% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.50% of the stock is currently owned by company insiders.

Institutional Trading of Perpetua Resources

Several institutional investors have recently added to or reduced their stakes in PPTA. Lowe Wealth Advisors LLC purchased a new position in shares of Perpetua Resources in the 2nd quarter worth $26,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Perpetua Resources in the 2nd quarter worth $31,000. Ancora Advisors LLC purchased a new position in shares of Perpetua Resources in the 4th quarter worth $37,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Perpetua Resources in the 2nd quarter worth $39,000. Finally, GAMMA Investing LLC boosted its stake in shares of Perpetua Resources by 1,658.4% in the 1st quarter. GAMMA Investing LLC now owns 4,308 shares of the company’s stock worth $46,000 after buying an additional 4,063 shares during the last quarter. 70.07% of the stock is currently owned by hedge funds and other institutional investors.

About Perpetua Resources

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.