Analysts Set Perpetua Resources Corp. (NASDAQ:PPTA) Price Target at $35.00

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) have been given an average rating of “Moderate Buy” by the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $35.00.

Several research firms recently issued reports on PPTA. HC Wainwright increased their target price on shares of Perpetua Resources from $30.00 to $41.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. B. Riley Financial lifted their price target on shares of Perpetua Resources from $30.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, March 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a research report on Thursday, January 22nd.

Perpetua Resources Stock Up 4.8%

PPTA stock opened at $26.46 on Wednesday. Perpetua Resources has a twelve month low of $8.84 and a twelve month high of $37.37. The stock has a market cap of $3.30 billion, a P/E ratio of -52.92 and a beta of -0.03. The business’s 50-day moving average price is $30.53 and its 200-day moving average price is $26.36.

Insider Activity

In other news, Director Robert Alan Dean sold 3,308 shares of Perpetua Resources stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $26.28, for a total value of $86,934.24. Following the sale, the director directly owned 24,702 shares of the company’s stock, valued at approximately $649,168.56. The trade was a 11.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey L. Malmen sold 10,181 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $26.34, for a total value of $268,167.54. Following the completion of the sale, the director owned 19,319 shares in the company, valued at $508,862.46. This represents a 34.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 110,249 shares of company stock worth $2,979,254 in the last quarter. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Perpetua Resources

Several hedge funds have recently made changes to their positions in PPTA. Steward Partners Investment Advisory LLC purchased a new position in Perpetua Resources in the second quarter worth about $31,000. Smartleaf Asset Management LLC purchased a new stake in Perpetua Resources during the fourth quarter valued at approximately $31,000. Private Trust Co. NA purchased a new stake in Perpetua Resources during the third quarter valued at approximately $35,000. UMB Bank n.a. bought a new stake in shares of Perpetua Resources in the 4th quarter valued at approximately $36,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of Perpetua Resources in the 4th quarter worth approximately $40,000. 70.07% of the stock is currently owned by hedge funds and other institutional investors.

Perpetua Resources Company Profile

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.