Perpetua Resources (NASDAQ:PPTA) Now Covered by B. Riley Financial

Investment analysts at B. Riley Financial initiated coverage on shares of Perpetua Resources (NASDAQ:PPTA) in a research note issued on Monday, Marketbeat reports. The brokerage set a “buy” rating and a $30.00 price target on the stock. B. Riley Financial’s price target points to a potential upside of 64.26% from the stock’s current price.

A number of other research firms have also weighed in on PPTA. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Perpetua Resources in a report on Friday, July 17th. Zacks Research raised shares of Perpetua Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Finally, HC Wainwright lifted their target price on Perpetua Resources from $41.00 to $43.50 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $35.90.

Perpetua Resources Trading Down 0.8%

Shares of PPTA traded down $0.15 during mid-day trading on Monday, reaching $18.26. The company had a trading volume of 67,473 shares, compared to its average volume of 1,668,623. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of -13.90 and a beta of 0.05. The firm has a fifty day simple moving average of $21.61 and a 200-day simple moving average of $27.09. Perpetua Resources has a fifty-two week low of $15.48 and a fifty-two week high of $37.37.

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

Institutional Investors Weigh In On Perpetua Resources

A number of hedge funds have recently made changes to their positions in the business. IFP Advisors Inc boosted its position in Perpetua Resources by 0.8% during the 4th quarter. IFP Advisors Inc now owns 50,405 shares of the company’s stock worth $1,220,000 after acquiring an additional 405 shares during the period. Farther Finance Advisors LLC raised its position in shares of Perpetua Resources by 21.0% during the 4th quarter. Farther Finance Advisors LLC now owns 3,123 shares of the company’s stock worth $76,000 after buying an additional 541 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Perpetua Resources by 0.5% in the 4th quarter. Benjamin Edwards Inc. now owns 102,645 shares of the company’s stock worth $2,485,000 after acquiring an additional 543 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Perpetua Resources by 4.6% in the second quarter. Tower Research Capital LLC TRC now owns 15,872 shares of the company’s stock valued at $193,000 after acquiring an additional 697 shares in the last quarter. Finally, Continuum Advisory LLC increased its stake in shares of Perpetua Resources by 8.5% during the first quarter. Continuum Advisory LLC now owns 12,736 shares of the company’s stock valued at $358,000 after acquiring an additional 994 shares during the period. Institutional investors own 70.07% of the company’s stock.

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.