Brokerages Set Perpetua Resources Corp. (NASDAQ:PPTA) Target Price at $37.90

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) have been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $35.90.

A number of equities analysts have commented on the stock. B. Riley Financial began coverage on shares of Perpetua Resources in a report on Monday. They issued a “buy” rating and a $30.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Perpetua Resources in a research report on Friday, July 17th. HC Wainwright boosted their price objective on shares of Perpetua Resources from $41.00 to $43.50 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Finally, Zacks Research raised shares of Perpetua Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th.

Perpetua Resources Trading Up 3.6%

Shares of NASDAQ PPTA opened at $19.07 on Tuesday. Perpetua Resources has a 12-month low of $15.48 and a 12-month high of $37.37. The stock’s fifty day simple moving average is $21.49 and its two-hundred day simple moving average is $27.01. The stock has a market capitalization of $2.39 billion, a PE ratio of -14.45 and a beta of 0.09.

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

Institutional Investors Weigh In On Perpetua Resources

Several hedge funds have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB grew its position in Perpetua Resources by 30.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 37,700 shares of the company’s stock worth $783,000 after purchasing an additional 8,900 shares during the period. FNY Investment Advisers LLC purchased a new stake in shares of Perpetua Resources in the second quarter worth about $103,000. Harbor Investment Advisory LLC boosted its stake in shares of Perpetua Resources by 87.1% in the second quarter. Harbor Investment Advisory LLC now owns 42,638 shares of the company’s stock worth $885,000 after buying an additional 19,844 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Perpetua Resources by 26.8% during the first quarter. Janus Henderson Group PLC now owns 39,250 shares of the company’s stock worth $1,104,000 after acquiring an additional 8,300 shares during the period. Finally, Amundi grew its holdings in Perpetua Resources by 37.3% during the first quarter. Amundi now owns 1,384,758 shares of the company’s stock worth $38,939,000 after acquiring an additional 375,962 shares during the period. 70.07% of the stock is owned by hedge funds and other institutional investors.

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.