Weiss Ratings Reiterates Sell (D-) Rating for Perpetua Resources (NASDAQ:PPTA)

Key Points

• Weiss Ratings has reaffirmed its "sell (D-)" rating for Perpetua Resources (NASDAQ:PPTA), indicating ongoing skepticism about the company's stock performance.
• Despite the sell rating, other analysts like B. Riley and HC Wainwright have issued positive ratings with price targets of $25.00 and $30.00, respectively.
• Recent insider trades show significant sell-offs, with insiders like Michael Stephen Wright and Jonathan Cherry reducing their holdings by 41.33% and 29.15%, respectively.

Perpetua Resources (NASDAQ:PPTA - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by equities researchers at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Other equities analysts have also issued research reports about the stock. B. Riley upped their price target on shares of Perpetua Resources from $23.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, October 3rd. HC Wainwright reissued a "buy" rating and set a $30.00 target price on shares of Perpetua Resources in a research note on Tuesday, September 23rd. Wall Street Zen upgraded shares of Perpetua Resources from a "sell" rating to a "hold" rating in a research note on Saturday, September 20th. Royal Bank Of Canada initiated coverage on Perpetua Resources in a report on Friday, July 18th. They set an "outperform" rating and a $23.00 price target on the stock. Finally, National Bankshares reiterated an "outperform" rating on shares of Perpetua Resources in a research report on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $24.25.

Perpetua Resources Stock Up 3.1%

Shares of NASDAQ PPTA opened at $24.34 on Wednesday. The firm's 50-day moving average price is $18.42 and its two-hundred day moving average price is $15.24. Perpetua Resources has a 52-week low of $7.81 and a 52-week high of $24.84. The stock has a market capitalization of $2.62 billion, a P/E ratio of -78.51 and a beta of 0.01.

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

Insider Activity at Perpetua Resources

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 shares were sold at an average price of $18.31, for a total value of $183,100.00. Following the transaction, the insider owned 14,195 shares in the company, valued at approximately $259,910.45. The trade was a 41.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan Cherry sold 14,911 shares of Perpetua Resources stock in a transaction that occurred 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 completion of the transaction, the insider owned 36,249 shares in the company, valued at approximately $859,826.28. This trade represents a 29.15% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Perpetua Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Paulson & CO. Inc. grew its position in Perpetua Resources by 30.6% during the 2nd quarter. Paulson & CO. Inc. now owns 32,347,299 shares of the company's stock worth $392,696,000 after purchasing an additional 7,575,757 shares in the last quarter. Encompass Capital Advisors LLC grew its position in Perpetua Resources by 145.0% during the 2nd quarter. Encompass Capital Advisors LLC now owns 3,608,369 shares of the company's stock worth $43,806,000 after purchasing an additional 2,135,478 shares in the last quarter. Sprott Inc. grew its position in Perpetua Resources by 15.5% during the 1st quarter. Sprott Inc. now owns 3,395,395 shares of the company's stock worth $36,297,000 after purchasing an additional 456,524 shares in the last quarter. Millennium Management LLC grew its position in Perpetua Resources by 219.0% during the 1st quarter. Millennium Management LLC now owns 1,181,899 shares of the company's stock worth $12,634,000 after purchasing an additional 811,363 shares in the last quarter. Finally, Monaco Asset Management SAM purchased a new position in Perpetua Resources during the 2nd quarter worth approximately $12,662,000. 70.07% of the stock is currently owned by hedge funds and other 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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