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

Key Points

• Eight brokerages give Perpetua a consensus recommendation of Moderate Buy (six buys, two sells) with an average 12‑month price target of $35.00, though some firms (B. Riley $40, HC Wainwright $41) issued higher targets while Weiss and Zacks issued sell ratings.
• Company insiders sold a total of 56,500 shares worth about $1.58M in the last three months, reducing insider ownership to 1.50%.
• Perpetua reported Q1 EPS of ($0.61), missing the consensus by $0.60 and with sell-side forecasts around ($0.21) for the fiscal year; the stock trades near recent highs (opened $33.90) with a market cap of about $4.24B.

Shares of Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $35.00.

A number of equities research analysts recently commented on PPTA shares. HC Wainwright reaffirmed a "buy" rating and issued a $41.00 price target on shares of Perpetua Resources in a report on Wednesday, April 8th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Perpetua Resources in a report on Thursday, January 22nd. B. Riley Financial boosted their target price on shares of Perpetua Resources from $30.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, March 18th. Finally, Zacks Research cut shares of Perpetua Resources from a "hold" rating to a "strong sell" rating in a report on Wednesday, April 8th.

Insiders Place Their Bets

In other Perpetua Resources news, insider Mckinsey Margaret Lyon sold 8,699 shares of the business's stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $29.53, for a total value of $256,881.47. Following the completion of the sale, the insider directly owned 142,329 shares of the company's stock, valued at $4,202,975.37. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jonathan Cherry sold 4,079 shares of the business's stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $29.31, for a total transaction of $119,555.49. Following the completion of the sale, the insider directly owned 44,895 shares of the company's stock, valued at $1,315,872.45. This represents a 8.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 56,500 shares of company stock worth $1,581,853 in the last three months. Insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Perpetua Resources

Hedge funds and other institutional investors have recently modified their holdings of the company. Y Intercept Hong Kong Ltd raised its stake in Perpetua Resources by 73.9% in the third quarter. Y Intercept Hong Kong Ltd now owns 101,353 shares of the company's stock worth $2,050,000 after buying an additional 43,086 shares in the last quarter. TD Asset Management Inc bought a new position in Perpetua Resources in the third quarter worth about $2,648,000. Benjamin Edwards Inc. bought a new position in Perpetua Resources in the third quarter worth about $2,066,000. CIBC Asset Management Inc bought a new position in Perpetua Resources in the third quarter worth about $1,239,000. Finally, Hohimer Wealth Management LLC bought a new position in Perpetua Resources in the third quarter worth about $1,812,000. 70.07% of the stock is owned by institutional investors.

Perpetua Resources Stock Performance

PPTA stock opened at $33.90 on Friday. The company has a market capitalization of $4.24 billion, a P/E ratio of -32.29 and a beta of 0.15. Perpetua Resources has a 52-week low of $11.22 and a 52-week high of $37.37. The business has a 50-day simple moving average of $30.21 and a two-hundred day simple moving average of $27.64.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last posted its earnings results on Tuesday, March 31st. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.60). As a group, sell-side analysts forecast that Perpetua Resources will post -0.21 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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