Analysts Set Perpetua Resources Corp. (NASDAQ:PPTA) PT at $37.90

Perpetua Resources Corp. (NASDAQ:PPTA) has been assigned an average rating of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $37.90.

Several equities research analysts have recently issued reports on PPTA shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Perpetua Resources in a research note on Friday, July 17th. HC Wainwright raised their price target on Perpetua Resources from $41.00 to $43.50 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Finally, Zacks Research upgraded Perpetua Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th.

Institutional Investors Weigh In On Perpetua Resources

Several institutional investors have recently made changes to their positions in PPTA. Alyeska Investment Group L.P. grew its holdings in Perpetua Resources by 40.4% during the 3rd quarter. Alyeska Investment Group L.P. now owns 4,581,234 shares of the company’s stock valued at $92,678,000 after purchasing an additional 1,318,008 shares during the last quarter. Vanguard Group Inc. lifted its stake in Perpetua Resources by 65.1% in the fourth quarter. Vanguard Group Inc. now owns 3,157,670 shares of the company’s stock worth $76,447,000 after purchasing an additional 1,245,630 shares during the last quarter. Van ECK Associates Corp lifted its stake in Perpetua Resources by 3.0% in the fourth quarter. Van ECK Associates Corp now owns 2,925,672 shares of the company’s stock worth $70,831,000 after purchasing an additional 85,126 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Perpetua Resources by 3,107.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,910,833 shares of the company’s stock valued at $70,471,000 after buying an additional 2,820,067 shares during the period. Finally, State Street Corp grew its stake in shares of Perpetua Resources by 12.1% during the fourth quarter. State Street Corp now owns 1,474,406 shares of the company’s stock valued at $35,695,000 after buying an additional 159,633 shares during the last quarter. Institutional investors own 70.07% of the company’s stock.

Perpetua Resources Stock Up 9.6%

Perpetua Resources stock opened at $18.91 on Tuesday. The company’s 50-day moving average price is $21.75 and its 200-day moving average price is $27.18. Perpetua Resources has a twelve month low of $14.69 and a twelve month high of $37.37. The company has a market cap of $2.37 billion, a PE ratio of -14.33 and a beta of 0.05.

Perpetua Resources (NASDAQ:PPTA) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.21). As a group, sell-side analysts expect that Perpetua Resources will post -1.42 earnings per share for the current fiscal year.

About Perpetua Resources

Perpetua Resources Inc (NASDAQ: PPTA), formerly known as eCobalt Solutions Inc, is a mineral exploration and development company focused on critical metals that support the global clean-energy transition. The company’s primary objective is to advance its flagship Idaho Cobalt Project, a permitted underground mine located near Stibnite, Idaho. This project is designed to produce cobalt, copper, gold and silver, with an emphasis on providing responsibly sourced materials to North American battery and technology markets.

In addition to its Idaho Cobalt Project, Perpetua Resources holds exploration licenses and mineral tenures across the United States and Canada.