Perpetua Resources Corp. (NASDAQ:PPTA) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Perpetua Resources has a “Moderate Buy” consensus rating from six analysts, with four buys, one hold and one sell. The average 12-month price target is $37.90.
• Institutional investors own 70.07% of the company, with Millennium Management increasing its stake by 219% during the first quarter.
• Shares opened at $18.24, well below the $37.37 52-week high, while the company reported quarterly EPS of -$0.39, missing the consensus estimate of -$0.18.

Shares of Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) have earned an average rating of "Moderate Buy" from the six brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $37.90.

Several research firms have commented on PPTA. Weiss Ratings restated a "sell (d-)" rating on shares of Perpetua Resources in a research report on Friday, July 17th. Zacks Research raised shares of Perpetua Resources from a "strong sell" rating to a "hold" rating in a report on Monday, June 8th. Finally, HC Wainwright boosted their target price on shares of Perpetua Resources from $41.00 to $43.50 and gave the company a "buy" rating in a research note on Tuesday, May 26th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. AQR Capital Management LLC boosted its stake in shares of Perpetua Resources by 12.6% during the 1st quarter. AQR Capital Management LLC now owns 15,909 shares of the company's stock worth $170,000 after acquiring an additional 1,780 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Perpetua Resources by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,958 shares of the company's stock valued at $672,000 after purchasing an additional 2,680 shares in the last quarter. Millennium Management LLC raised its holdings in Perpetua Resources by 219.0% in the 1st quarter. Millennium Management LLC now owns 1,181,899 shares of the company's stock worth $12,634,000 after purchasing an additional 811,363 shares during the period. Goldman Sachs Group Inc. raised its holdings in Perpetua Resources by 1.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 108,921 shares of the company's stock worth $1,164,000 after purchasing an additional 1,835 shares during the period. Finally, Creative Planning purchased a new position in Perpetua Resources during the second quarter worth approximately $134,000. Institutional investors and hedge funds own 70.07% of the company's stock.

Perpetua Resources Stock Up 2.2%

Shares of PPTA stock opened at $18.24 on Tuesday. The stock has a market cap of $2.28 billion, a PE ratio of -13.82 and a beta of 0.05. The business has a 50-day simple moving average of $22.26 and a 200-day simple moving average of $27.42. Perpetua Resources has a 52-week low of $14.69 and a 52-week high of $37.37.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last posted its earnings results on Monday, May 11th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.21). Sell-side analysts anticipate that Perpetua Resources will post -1.42 earnings per share for the current fiscal 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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