Perpetua Resources (NASDAQ:PPTA) Cut to Sell at Wall Street Zen

Key Points

• Perpetua Resources was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating, which reflects a cautious outlook from analysts on the company's stock.
• Despite the downgrade, other firms like HC Wainwright and UBS Group maintain a "buy" rating with a target price of $30.00, indicating mixed analyst sentiment.
• In recent insider trades, key executives have sold significant shares of the company, indicating a potential lack of confidence among insiders about the stock's future performance.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

A number of other research firms have also issued reports on PPTA. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 target price on shares of Perpetua Resources in a research note on Tuesday, September 23rd. UBS Group set a $30.00 target price on Perpetua Resources in a research note on Thursday, October 9th. BMO Capital Markets began coverage on Perpetua Resources in a research note on Tuesday. They issued an "outperform" rating on the stock. Royal Bank Of Canada began coverage on Perpetua Resources in a research note on Friday, July 18th. They issued an "outperform" rating and a $23.00 target price on the stock. Finally, Roth Capital reaffirmed a "buy" rating on shares of Perpetua Resources in a research note on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $25.40.

Perpetua Resources Price Performance

PPTA opened at $25.32 on Friday. The stock has a market cap of $2.72 billion, a P/E ratio of -81.67 and a beta of 0.01. The stock's 50 day simple moving average is $19.82 and its 200 day simple moving average is $15.98. Perpetua Resources has a 1-year low of $7.81 and a 1-year high of $31.65.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.08) earnings per share for the quarter, topping analysts' consensus estimates of ($0.14) by $0.06. Research analysts expect that Perpetua Resources will post -0.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other Perpetua Resources news, insider Jonathan Cherry sold 14,911 shares of the stock in a transaction on Monday, October 6th. The stock was sold at an average price of $23.72, for a total transaction of $353,688.92. Following the transaction, the insider owned 36,249 shares of the company's stock, valued at $859,826.28. This represents a 29.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael Stephen Wright sold 10,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $18.31, for a total value of $183,100.00. Following the transaction, the insider directly owned 14,195 shares in the company, valued at approximately $259,910.45. This represents a 41.33% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Lowe Wealth Advisors LLC purchased a new position in shares of Perpetua Resources in the 2nd quarter worth $26,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Perpetua Resources in the 2nd quarter worth $31,000. Private Trust Co. NA purchased a new position in shares of Perpetua Resources in the 3rd quarter worth $35,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Perpetua Resources in the 2nd quarter worth $39,000. Finally, GAMMA Investing LLC raised its position in shares of Perpetua Resources by 1,658.4% in the 1st quarter. GAMMA Investing LLC now owns 4,308 shares of the company's stock worth $46,000 after buying an additional 4,063 shares during the period. 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.

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