Perpetua Resources (NASDAQ:PPTA) Shares Up 12.8% – What’s Next?

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) were up 12.8% on Friday. The stock traded as high as $18.59 and last traded at $18.8960. 911,804 shares changed hands during trading, a decline of 40% from the average daily volume of 1,520,741 shares. The stock had previously closed at $16.75.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PPTA. HC Wainwright restated a “buy” rating and issued a $43.50 price target on shares of Perpetua Resources in a research report on Wednesday, September 30th. Zacks Research downgraded shares of Perpetua Resources from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 15th. B. Riley Financial started coverage on shares of Perpetua Resources in a research note on Monday, August 3rd. They set a “buy” rating and a $30.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a report on Thursday, October 15th. Finally, Scotiabank began coverage on shares of Perpetua Resources in a report on Tuesday, September 1st. They issued a “sector outperform” rating on the stock. Three analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $36.75.

Perpetua Resources Stock Performance

The stock has a 50 day moving average of $21.01 and a 200 day moving average of $25.24. The stock has a market capitalization of $2.38 billion, a P/E ratio of -9.35 and a beta of 0.24.

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

Institutional Trading of Perpetua Resources

Hedge funds have recently bought and sold shares of the company. Paulson & CO. Inc. acquired a new position in Perpetua Resources during the 2nd quarter valued at about $671,530,000. BlackRock Inc. acquired a new stake in shares of Perpetua Resources in the second quarter valued at approximately $110,181,000. Alyeska Investment Group L.P. increased its stake 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 during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Perpetua Resources during the second quarter valued at approximately $15,128,000. Finally, Wellington Management Group LLP bought a new stake in shares of Perpetua Resources during the second quarter valued at approximately $11,904,000. 70.07% of the stock is currently owned by institutional investors.

Perpetua Resources Company Profile

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.