Royal Bank of Canada Acquires 94,302 Shares of Perpetua Resources Corp. $PPTA

Royal Bank of Canada grew its holdings in Perpetua Resources Corp. (NASDAQ:PPTA) by 24.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 485,118 shares of the company’s stock after purchasing an additional 94,302 shares during the period. Royal Bank of Canada’s holdings in Perpetua Resources were worth $13,641,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC bought a new position in shares of Perpetua Resources in the fourth quarter worth about $31,000. UMB Bank n.a. purchased a new stake in Perpetua Resources in the 4th quarter valued at about $36,000. Kestra Advisory Services LLC purchased a new stake in Perpetua Resources in the 4th quarter valued at about $40,000. Pilgrim Partners Asia Pte Ltd grew its stake in Perpetua Resources by 225.0% in the 4th quarter. Pilgrim Partners Asia Pte Ltd now owns 2,600 shares of the company’s stock worth $63,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Osterweis Capital Management Inc. purchased a new position in shares of Perpetua Resources during the fourth quarter worth approximately $63,000. 70.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on PPTA. Zacks Research raised shares of Perpetua Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. HC Wainwright raised their price objective on Perpetua Resources from $41.00 to $43.50 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a report on Friday, July 17th. Finally, B. Riley Financial assumed coverage on Perpetua Resources in a research report on Monday, August 3rd. They set a “buy” rating and a $30.00 price target on the stock. Four 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.90.

Perpetua Resources Stock Performance

Shares of PPTA opened at $24.72 on Friday. The company has a 50 day moving average price of $21.18 and a 200-day moving average price of $26.79. Perpetua Resources Corp. has a fifty-two week low of $16.28 and a fifty-two week high of $37.37. The stock has a market capitalization of $3.09 billion, a PE ratio of -18.73 and a beta of 0.09.

Perpetua Resources (NASDAQ:PPTA) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.21). Equities research analysts forecast that Perpetua Resources Corp. will post -1.42 EPS for the current year.

Perpetua Resources 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.