Perpetua Resources (NASDAQ:PPTA) Rating Increased to Hold at Wall Street Zen

Key Points

• Perpetua Resources (NASDAQ:PPTA) has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, reflecting a shift in investor sentiment.
• Multiple research firms maintain a positive outlook on Perpetua Resources, with average target price forecasts around $23.75, indicating potential upside for investors.
• Insiders have recently sold shares, including Michael Stephen Wright, who reduced his holdings significantly, suggesting a cautious stance among company insiders.

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

Several other research firms have also commented on PPTA. National Bankshares restated an "outperform" rating on shares of Perpetua Resources in a research report on Wednesday, June 18th. HC Wainwright raised their price target on Perpetua Resources from $27.50 to $30.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. Royal Bank Of Canada began coverage on Perpetua Resources in a research report on Friday, July 18th. They set an "outperform" rating and a $23.00 price target for the company. Finally, B. Riley raised their price target on Perpetua Resources from $17.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $23.75.

Perpetua Resources Stock Performance

Shares of Perpetua Resources stock opened at $18.31 on Friday. The firm has a market capitalization of $1.97 billion and a price-to-earnings ratio of -59.06. Perpetua Resources has a fifty-two week low of $7.81 and a fifty-two week high of $19.75. The stock has a 50 day moving average of $17.15 and a 200 day moving average of $14.24.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.06. Analysts forecast that Perpetua Resources will post -0.21 EPS for the current year.

Insiders Place Their Bets

In other Perpetua Resources news, insider Michael Stephen Wright sold 10,000 shares of Perpetua Resources stock in a transaction that occurred 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 sale, the insider owned 14,195 shares of the company's stock, valued at approximately $259,910.45. The trade was a 41.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Perpetua Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. ProShare Advisors LLC acquired a new stake in shares of Perpetua Resources during the 4th quarter valued at approximately $116,000. Medici Capital LLC acquired a new position in shares of Perpetua Resources during the 2nd quarter worth approximately $607,000. Deutsche Bank AG raised its position in shares of Perpetua Resources by 409.2% during the 1st quarter. Deutsche Bank AG now owns 157,285 shares of the company's stock worth $1,681,000 after purchasing an additional 126,394 shares during the last quarter. Amundi raised its position in shares of Perpetua Resources by 39.4% during the 1st quarter. Amundi now owns 1,017,573 shares of the company's stock worth $11,397,000 after purchasing an additional 287,664 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in Perpetua Resources by 6.0% in the 1st quarter. Rhumbline Advisers now owns 64,688 shares of the company's stock valued at $692,000 after acquiring an additional 3,672 shares during the last quarter. 70.07% of the stock is currently owned by institutional investors and hedge funds.

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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