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

Key Points

• Perpetua Resources has a “Moderate Buy” consensus rating from six analysts: four buys, one hold and one sell. The average 12-month price target is $35.90, implying potential upside from the reported $25.70 share price.
• Analyst views remain mixed, with recent targets ranging from B. Riley’s $30.00 to HC Wainwright’s $43.50, while Zacks upgraded the stock to “hold” and Weiss Ratings maintained a “sell” rating.
• The company reported a quarterly loss of $0.78 per share, substantially missing the $0.19-loss consensus estimate; analysts expect full-year EPS of approximately -$2.16. Institutional investors and hedge funds own 70.07% of the stock.

Shares of Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) have earned a consensus rating of "Moderate Buy" from the six ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $35.90.

PPTA has been the subject of a number of analyst reports. Zacks Research raised Perpetua Resources from a "strong sell" rating to a "hold" rating in a report on Monday, June 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of Perpetua Resources in a report on Friday, July 17th. B. Riley Financial started coverage on Perpetua Resources in a research report on Monday, August 3rd. They issued a "buy" rating and a $30.00 price objective for the company. Finally, HC Wainwright reaffirmed a "buy" rating and set a $43.50 target price on shares of Perpetua Resources in a research note on Tuesday.

Hedge Funds Weigh In On Perpetua Resources

Large investors have recently added to or reduced their stakes in the stock. Osterweis Capital Management Inc. acquired a new position in Perpetua Resources during the second quarter worth $26,000. Smartleaf Asset Management LLC acquired a new stake in shares of Perpetua Resources in the fourth quarter valued at about $31,000. UMB Bank n.a. acquired a new stake in shares of Perpetua Resources in the fourth quarter valued at about $36,000. Kestra Advisory Services LLC purchased a new stake in shares of Perpetua Resources during the fourth quarter worth about $40,000. Finally, Pilgrim Partners Asia Pte Ltd increased its stake in shares of Perpetua Resources by 225.0% during the fourth quarter. Pilgrim Partners Asia Pte Ltd now owns 2,600 shares of the company's stock worth $63,000 after purchasing an additional 1,800 shares in the last quarter. 70.07% of the stock is currently owned by institutional investors and hedge funds.

Perpetua Resources Stock Performance

PPTA opened at $25.70 on Friday. The company has a fifty day moving average of $21.41 and a two-hundred day moving average of $26.25. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of -12.72 and a beta of 0.09. Perpetua Resources has a fifty-two week low of $16.43 and a fifty-two week high of $37.37.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last posted its 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 period last year, the firm earned $0.08 EPS. On average, equities research analysts forecast that Perpetua Resources will post -2.16 earnings per share for the current year.

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. The company was formerly known as Midas Gold Corp. and changed its name to Perpetua Resources Corp.

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