Royal Bank of Canada Buys 94,302 Shares of Perpetua Resources Corp. $PPTA

Key Points

• Royal Bank of Canada increased its Perpetua Resources stake by 24.1% in the first quarter, purchasing 94,302 shares to own 485,118 shares valued at approximately $13.6 million. Institutional investors collectively own 70.07% of PPTA.
• Analyst sentiment is generally positive, with four Buy ratings, one Hold and one Sell. The stock has a “Moderate Buy” consensus rating and a consensus price target of $35.90.
• Perpetua Resources opened at $24.72, versus a 52-week range of $16.28 to $37.37, but reported a quarterly loss of $0.39 per share—worse than the expected $0.18 loss.

Royal Bank of Canada grew its position in shares of Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) by 24.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 485,118 shares of the company's stock after purchasing an additional 94,302 shares during the period. Royal Bank of Canada owned approximately 0.39% of Perpetua Resources worth $13,641,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC bought a new position in Perpetua Resources during the fourth quarter valued at approximately $31,000. UMB Bank n.a. bought a new stake in Perpetua Resources in the 4th quarter worth approximately $36,000. Kestra Advisory Services LLC purchased a new stake in shares of Perpetua Resources during the 4th quarter worth approximately $40,000. Pilgrim Partners Asia Pte Ltd raised its holdings in shares of Perpetua Resources by 225.0% during the 4th quarter. Pilgrim Partners Asia Pte Ltd now owns 2,600 shares of the company's stock worth $63,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in shares of Perpetua Resources during the 4th quarter valued at approximately $63,000. 70.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PPTA. Weiss Ratings restated a "sell (d-)" rating on shares of Perpetua Resources in a research report on Friday, July 17th. Zacks Research upgraded shares of Perpetua Resources from a "strong sell" rating to a "hold" rating in a research report on Monday, June 8th. B. Riley Financial assumed coverage on shares of Perpetua Resources in a research note on Monday, August 3rd. They issued a "buy" rating and a $30.00 price objective for the company. Finally, HC Wainwright boosted their target price on shares of Perpetua Resources from $41.00 to $43.50 and gave the stock a "buy" rating in a report on Tuesday, May 26th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $35.90.

Perpetua Resources Stock Performance

NASDAQ PPTA opened at $24.72 on Friday. The company has a market cap of $3.09 billion, a P/E ratio of -18.73 and a beta of 0.09. The business's 50 day moving average price is $21.18 and its 200-day moving average price is $26.79. Perpetua Resources Corp. has a fifty-two week low of $16.28 and a fifty-two week high of $37.37.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.21). As a group, equities analysts predict that Perpetua Resources Corp. will post -1.42 EPS for the current year.

About Perpetua Resources

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.

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