Perpetua Resources Corp. (NASDAQ:PPTA) Receives $21.63 Average PT from Brokerages

Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) has earned a consensus recommendation of "Buy" from the six research firms that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $21.63.

Several equities analysts have recently issued reports on PPTA shares. HC Wainwright reissued a "buy" rating and set a $27.50 price target on shares of Perpetua Resources in a report on Tuesday, June 17th. National Bankshares reaffirmed an "outperform" rating on shares of Perpetua Resources in a report on Wednesday, June 18th. Royal Bank Of Canada started coverage on shares of Perpetua Resources in a report on Friday. They issued an "outperform" rating and a $23.00 price objective for the company. Finally, B. Riley reaffirmed 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.

Perpetua Resources Stock Down 0.9%

Shares of PPTA traded down $0.15 during mid-day trading on Friday, hitting $17.03. The stock had a trading volume of 1,537,141 shares, compared to its average volume of 1,150,811. The company has a market cap of $1.83 billion, a PE ratio of -58.19 and a beta of -0.04. The company's fifty day simple moving average is $13.87 and its two-hundred day simple moving average is $12.29. Perpetua Resources has a fifty-two week low of $5.25 and a fifty-two week high of $17.96.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.07). Equities analysts expect that Perpetua Resources will post -0.21 earnings per share for the current year.

Insider Transactions at Perpetua Resources

In other news, major shareholder Paulson & Co. Inc. acquired 7,575,757 shares of Perpetua Resources stock in a transaction on Monday, June 16th. The stock was bought at an average cost of $13.20 per share, with a total value of $99,999,992.40. Following the completion of the purchase, the insider owned 32,347,299 shares of the company's stock, valued at $426,984,346.80. This represents a 30.58% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Stephen Wright sold 6,500 shares of the company's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $13.85, for a total transaction of $90,025.00. Following the sale, the insider directly owned 14,195 shares of the company's stock, valued at $196,600.75. This represents a 31.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. ProShare Advisors LLC acquired a new position in Perpetua Resources in the fourth quarter worth approximately $116,000. Rhumbline Advisers grew its position in Perpetua Resources by 6.0% in the first quarter. Rhumbline Advisers now owns 64,688 shares of the company's stock worth $692,000 after acquiring an additional 3,672 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in Perpetua Resources in the fourth quarter worth approximately $55,000. Raymond James Financial Inc. bought a new stake in Perpetua Resources in the fourth quarter worth approximately $280,000. Finally, The Manufacturers Life Insurance Company grew its position in Perpetua Resources by 387.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 67,483 shares of the company's stock worth $720,000 after acquiring an additional 53,634 shares in the last quarter. Hedge funds and other institutional investors own 70.07% of the company's stock.

Perpetua Resources Company Profile

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.