Perpetua Resources (NASDAQ:PPTA) Sets New 12-Month Low - What's Next?

Key Points

• Perpetua Resources fell to a new 52-week low of $16.38, trading down 3.9% from the prior close and well below its 50-day and 200-day moving averages.
• Analyst opinions remain divided: three analysts rate PPTA a Buy and two rate it a Sell, resulting in a consensus Hold rating and a $39.17 average price target.
• The company reported a quarterly loss of $0.78 per share, missing estimates by $0.59, while institutional investors and hedge funds own approximately 70.1% of its stock.

Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Friday. The company traded as low as $16.38 and last traded at $16.8350, with a volume of 419,693 shares changing hands. The stock had previously closed at $17.26.

Analysts Set New Price Targets

PPTA has been the topic of a number of research reports. Zacks Research lowered shares of Perpetua Resources from a "hold" rating to a "strong sell" rating in a research note on Thursday, October 15th. B. Riley Financial assumed coverage on Perpetua Resources in a research report on Monday, August 3rd. They set a "buy" rating and a $30.00 price target on the stock. Scotiabank assumed coverage on shares of Perpetua Resources in a report on Tuesday, September 1st. They issued a "sector outperform" rating on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Perpetua Resources in a report on Thursday, October 15th. Finally, HC Wainwright reissued a "buy" rating and issued a $43.50 price target on shares of Perpetua Resources in a report on Wednesday, September 30th. Three equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $39.17.

Perpetua Resources Trading Down 3.9%

The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -8.21 and a beta of 0.15. The firm's 50-day moving average price is $22.68 and its 200 day moving average price is $23.92.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.59). During the same quarter in the prior year, the business earned $0.08 earnings per share. As a group, equities research analysts anticipate that Perpetua Resources Corp. will post -2.16 earnings per share for the current fiscal year.

Institutional Trading of Perpetua Resources

Several hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC boosted its position in Perpetua Resources by 839.7% in the third quarter. Sterling Capital Management LLC now owns 2,838 shares of the company's stock worth $61,000 after purchasing an additional 2,536 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Perpetua Resources during the 3rd quarter worth $216,000. GK Wealth Management LLC purchased a new position in shares of Perpetua Resources in the 3rd quarter worth about $66,000. Farther Finance Advisors LLC boosted its holdings in shares of Perpetua Resources by 6.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 32,827 shares of the company's stock worth $708,000 after buying an additional 1,874 shares during the last quarter. Finally, Hickory Point Bank & Trust boosted its holdings in shares of Perpetua Resources by 30.0% in the 3rd quarter. Hickory Point Bank & Trust now owns 13,000 shares of the company's stock worth $280,000 after buying an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 70.07% of the company's stock.

Perpetua Resources Company Profile

Perpetua Resources Corp. is a mineral development company focused on advancing the Stibnite Gold Project in central Idaho. The project is designed to produce gold and antimony, a critical mineral used in defense applications, energy technologies, flame retardants and other industrial products. The company is pursuing the project through its U.S. subsidiary, Stibnite Gold Project LLC.

The Stibnite Gold Project is located in the historic Stibnite-Yellow Pine mining district. Perpetua’s activities include permitting, engineering, environmental studies and project development, as well as planning for the restoration of legacy environmental impacts associated with earlier mining in the area.

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