Perpetua Resources’ (PPTA) “Buy” Rating Reiterated at B. Riley

B. Riley reissued their buy rating on shares of Perpetua Resources (NASDAQ:PPTA) in a research note released on Wednesday morning, Marketbeat.com reports. The firm currently has a $17.00 target price on the stock, up from their previous target price of $16.00.

PPTA has been the subject of a number of other research reports. National Bank Financial raised shares of Perpetua Resources to a “strong-buy” rating in a research report on Friday, March 21st. HC Wainwright reissued a “buy” rating and set a $27.50 price target on shares of Perpetua Resources in a report on Tuesday. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Perpetua Resources in a report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Perpetua Resources currently has an average rating of “Buy” and a consensus target price of $21.17.

Perpetua Resources Trading Down 3.2%

PPTA stock opened at $12.99 on Wednesday. The stock’s 50 day simple moving average is $14.10 and its 200 day simple moving average is $12.01. Perpetua Resources has a 12-month low of $5.01 and a 12-month high of $17.96. The stock has a market capitalization of $929.30 million, a PE ratio of -44.79 and a beta of 0.02.

Perpetua Resources (NASDAQ:PPTA) last released its quarterly earnings data on Friday, May 9th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.07). On average, research analysts predict that Perpetua Resources will post -0.21 earnings per share for the current year.

Insiders Place Their Bets

In other Perpetua Resources news, insider Michael Stephen Wright sold 6,500 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $13.85, for a total value of $90,025.00. Following the sale, the insider now owns 14,195 shares in the company, valued at $196,600.75. This trade represents a 31.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Paulson & Co. Inc. acquired 7,575,757 shares of the stock in a transaction on Monday, June 16th. The stock was bought at an average cost of $13.20 per share, with a total value of $99,999,992.40. Following the completion of the transaction, the insider now owns 32,347,299 shares in the company, valued at $426,984,346.80. This trade represents a 30.58% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Sprott Inc. grew its position in shares of Perpetua Resources by 15.5% during the 1st quarter. Sprott Inc. now owns 3,395,395 shares of the company’s stock worth $36,297,000 after buying an additional 456,524 shares in the last quarter. Encompass Capital Advisors LLC bought a new stake in shares of Perpetua Resources in the 1st quarter valued at about $15,745,000. Millennium Management LLC lifted its holdings in shares of Perpetua Resources by 219.0% during the 1st quarter. Millennium Management LLC now owns 1,181,899 shares of the company’s stock valued at $12,634,000 after purchasing an additional 811,363 shares during the last quarter. Amundi boosted its stake in Perpetua Resources by 39.4% in the 1st quarter. Amundi now owns 1,017,573 shares of the company’s stock worth $11,397,000 after purchasing an additional 287,664 shares in the last quarter. Finally, Condire Management LP increased its holdings in Perpetua Resources by 6.9% in the 4th quarter. Condire Management LP now owns 890,459 shares of the company’s stock worth $9,501,000 after buying an additional 57,399 shares during the period. 70.07% of the stock is currently owned by hedge funds and other institutional investors.

Perpetua Resources Company Profile

Perpetua Resources Corp. engages in the exploration and development of mineral properties in the United States. The company primarily explores for gold, silver, and antimony deposits. Its principal asset is the 100% owned Stibnite Gold project, which includes 1,672 unpatented lode claims, mill sites, and patented land holdings covering an area of approximately 11,548 hectares located in Valley County, Idaho.