Perpetua Resources (NASDAQ:PPTA) Now Covered by Analysts at Royal Bank Of Canada

Stock analysts at Royal Bank Of Canada assumed coverage on shares of Perpetua Resources (NASDAQ:PPTA - Get Free Report) in a research note issued on Friday,Briefing.com Automated Import reports. The brokerage set an "outperform" rating and a $23.00 price target on the stock. Royal Bank Of Canada's price objective would suggest a potential upside of 37.77% from the stock's current price.

Other equities research analysts have also issued reports about the stock. National Bank Financial raised shares of Perpetua Resources to a "strong-buy" rating in a report on Friday, March 21st. National Bankshares reaffirmed an "outperform" rating on shares of Perpetua Resources in a report on Wednesday, June 18th. HC Wainwright reaffirmed a "buy" rating and set a $27.50 price target on shares of Perpetua Resources in a report on Tuesday, June 17th. Finally, B. Riley reissued a "buy" rating and set a $17.00 target price (up from $16.00) on shares of Perpetua Resources in a report on Wednesday, June 18th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Perpetua Resources presently has an average rating of "Buy" and an average price target of $21.63.

Perpetua Resources Price Performance

Perpetua Resources stock traded up $0.83 during midday trading on Friday, hitting $16.70. The company's stock had a trading volume of 555,482 shares, compared to its average volume of 1,121,498. Perpetua Resources has a 1-year low of $5.25 and a 1-year high of $17.96. The company has a 50-day moving average price of $13.83 and a two-hundred day moving average price of $12.23. The company has a market cap of $1.80 billion, a price-to-earnings ratio of -57.21 and a beta of -0.04.

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

Insider Buying and Selling

In other news, major shareholder Paulson & Co. Inc. acquired 7,575,757 shares of Perpetua Resources stock in a transaction dated Monday, June 16th. The shares were bought at an average cost of $13.20 per share, with a total value of $99,999,992.40. Following the purchase, the insider owned 32,347,299 shares in the company, valued at $426,984,346.80. This trade represents a 30.58% increase in their position. The purchase was disclosed in a legal filing 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 on Thursday, April 24th. The shares were sold at an average price of $13.85, for a total transaction of $90,025.00. Following the completion of the sale, the insider directly owned 14,195 shares in the company, valued at approximately $196,600.75. This represents a 31.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Perpetua Resources

A number of institutional investors have recently modified their holdings of PPTA. Bank of Montreal Can boosted its stake in Perpetua Resources by 1.6% during the fourth quarter. Bank of Montreal Can now owns 67,594 shares of the company's stock worth $721,000 after acquiring an additional 1,054 shares in the last quarter. Corebridge Financial Inc. raised its holdings in Perpetua Resources by 7.8% during the first quarter. Corebridge Financial Inc. now owns 20,644 shares of the company's stock worth $221,000 after buying an additional 1,498 shares during the last quarter. AQR Capital Management LLC raised its holdings in Perpetua Resources by 12.6% during the first quarter. AQR Capital Management LLC now owns 15,909 shares of the company's stock worth $170,000 after buying an additional 1,780 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Perpetua Resources by 1.7% during the first quarter. Goldman Sachs Group Inc. now owns 108,921 shares of the company's stock worth $1,164,000 after buying an additional 1,835 shares during the last quarter. Finally, Lowe Wealth Advisors LLC acquired a new position in Perpetua Resources during the second quarter worth $26,000. 70.07% of the stock is owned by institutional investors.

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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