Perpetua Resources Corp. (NASDAQ:PPTA) Stock Rated “Hold” by Wall Street Analysts

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) have earned a consensus rating of “Hold” from the seven brokerages that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $37.38.

A number of research analysts have recently issued reports on PPTA shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a research note on Thursday. HC Wainwright restated a “buy” rating and set a $43.50 target price on shares of Perpetua Resources in a research report on Wednesday, September 30th. B. Riley Financial began coverage on Perpetua Resources in a research note on Monday, August 3rd. They set a “buy” rating and a $30.00 target price for the company. Zacks Research cut Perpetua Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday. Finally, Scotiabank began coverage on Perpetua Resources in a report on Tuesday, September 1st. They issued a “sector outperform” rating for the company.

Perpetua Resources Stock Up 3.8%

PPTA stock opened at $19.21 on Friday. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of -9.51 and a beta of 0.15. Perpetua Resources has a 12-month low of $16.43 and a 12-month high of $37.37. The company’s fifty day simple moving average is $23.22 and its 200 day simple moving average is $24.23.

Perpetua Resources (NASDAQ:PPTA) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.59). During the same quarter last year, the company earned $0.08 EPS. Research analysts expect that Perpetua Resources will post -2.16 earnings per share for the current year.

Hedge Funds Weigh In On Perpetua Resources

A number of institutional investors and hedge funds have recently modified their holdings of the business. Paulson & CO. Inc. bought a new stake in shares of Perpetua Resources in the 2nd quarter valued at $671,530,000. BlackRock Inc. acquired a new position in shares of Perpetua Resources during the 2nd quarter valued at $110,181,000. Alyeska Investment Group L.P. boosted its stake in Perpetua Resources by 363.4% during the second quarter. Alyeska Investment Group L.P. now owns 1,099,408 shares of the company’s stock worth $22,824,000 after acquiring an additional 862,143 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Perpetua Resources during the second quarter worth $15,128,000. Finally, Wellington Management Group LLP bought a new position in Perpetua Resources during the second quarter worth $11,904,000. 70.07% of the stock is currently owned by institutional investors.

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.