Perpetua Resources (NASDAQ:PPTA) Trading 9.9% Higher – What’s Next?

Perpetua Resources Corp. (NASDAQ:PPTA)’s share price rose 9.9% on Wednesday . The company traded as high as $22.89 and last traded at $22.73. 568,435 shares traded hands during trading, a decline of 66% from the average daily volume of 1,662,979 shares. The stock had previously closed at $20.68.

Analyst Upgrades and Downgrades

PPTA has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a research note on Friday, July 17th. B. Riley Financial started coverage on Perpetua Resources in a research note on Monday. They issued a “buy” rating and a $30.00 target price on the stock. HC Wainwright increased their price target on 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 report on Monday, June 8th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.90.

Perpetua Resources Stock Performance

The stock has a market capitalization of $3.07 billion, a PE ratio of -18.57 and a beta of 0.09. The business’s 50-day moving average price is $21.23 and its 200 day moving average price is $26.80.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. IFP Advisors Inc raised its stake in Perpetua Resources by 0.8% in the fourth quarter. IFP Advisors Inc now owns 50,405 shares of the company’s stock valued at $1,220,000 after buying an additional 405 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Perpetua Resources by 21.0% in the 4th quarter. Farther Finance Advisors LLC now owns 3,123 shares of the company’s stock valued at $76,000 after purchasing an additional 541 shares during the period. Benjamin Edwards Inc. increased 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 valued at $2,485,000 after purchasing an additional 543 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Perpetua Resources by 4.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 15,872 shares of the company’s stock valued at $193,000 after buying an additional 697 shares in the last quarter. Finally, Continuum Advisory LLC lifted its stake in Perpetua Resources by 8.5% in the 1st quarter. Continuum Advisory LLC now owns 12,736 shares of the company’s stock valued at $358,000 after buying an additional 994 shares in the last quarter. 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.