Perpetua Resources Corp. (NASDAQ:PPTA) Receives $21.63 Consensus Price Target from Brokerages

Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) has been given an average rating of "Buy" by the six ratings firms that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $21.63.

A number of equities analysts recently commented on the company. National Bankshares reiterated an "outperform" rating on shares of Perpetua Resources in a report on Wednesday, June 18th. Royal Bank Of Canada initiated coverage on shares of Perpetua Resources in a research report on Friday. They issued an "outperform" rating and a $23.00 price target for the company. B. Riley reiterated a "buy" rating and issued a $17.00 price target (up from $16.00) on shares of Perpetua Resources in a research report on Wednesday, June 18th. HC Wainwright reissued a "buy" rating and issued a $27.50 price objective on shares of Perpetua Resources in a research note on Tuesday, June 17th. Finally, National Bank Financial raised shares of Perpetua Resources to a "strong-buy" rating in a research note on Friday, March 21st.

Insider Buying and Selling at Perpetua Resources

In related news, insider Michael Stephen Wright sold 6,500 shares of Perpetua Resources stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $13.85, for a total value of $90,025.00. Following the transaction, the insider owned 14,195 shares in the company, valued at $196,600.75. This trade represents a 31.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Paulson & Co. Inc. acquired 7,575,757 shares of the firm's stock in a transaction on Monday, June 16th. The stock was purchased at an average price of $13.20 per share, for a total transaction of $99,999,992.40. Following the transaction, the insider directly owned 32,347,299 shares of the company's stock, valued at approximately $426,984,346.80. This trade represents a 30.58% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Perpetua Resources

Several hedge funds have recently bought and sold shares of PPTA. Sowell Financial Services LLC bought a new position in Perpetua Resources during the second quarter valued at approximately $121,000. Krilogy Financial LLC increased its stake in shares of Perpetua Resources by 2.6% in the second quarter. Krilogy Financial LLC now owns 821,914 shares of the company's stock worth $9,978,000 after purchasing an additional 21,010 shares in the last quarter. Lowe Wealth Advisors LLC purchased a new position in Perpetua Resources during the second quarter valued at $26,000. Medici Capital LLC purchased a new position in Perpetua Resources during the second quarter valued at $607,000. Finally, Goldman Sachs Group Inc. lifted its position in Perpetua Resources by 1.7% during the first quarter. Goldman Sachs Group Inc. now owns 108,921 shares of the company's stock valued at $1,164,000 after purchasing an additional 1,835 shares during the last quarter. Institutional investors own 70.07% of the company's stock.

Perpetua Resources Price Performance

Shares of PPTA stock traded up $1.31 during trading hours on Friday, reaching $17.18. The company had a trading volume of 5,761,402 shares, compared to its average volume of 1,144,741. The company has a 50 day moving average of $13.87 and a 200 day moving average of $12.27. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -59.24 and a beta of -0.04. Perpetua Resources has a 1-year low of $5.25 and a 1-year high of $17.96.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.07). As a group, sell-side analysts forecast that Perpetua Resources will post -0.21 EPS for the current fiscal year.

About Perpetua Resources

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.