Perpetua Resources (NASDAQ:PPTA) Stock Keeps Buy Rating at HC Wainwright

Perpetua Resources (NASDAQ:PPTA)‘s stock had its “buy” rating reiterated by HC Wainwright in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. They currently have a $43.50 price target on the stock. HC Wainwright’s target price suggests a potential upside of 111.60% from the company’s previous close.

Several other research analysts have also recently weighed in on the company. B. Riley Financial initiated coverage on Perpetua Resources in a research note on Monday, August 3rd. They set a “buy” rating and a $30.00 target price for the company. Scotiabank initiated coverage on Perpetua Resources in a report on Tuesday, September 1st. They set a “sector outperform” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a research note on Friday, July 17th. Finally, Zacks Research raised Perpetua Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.90.

Perpetua Resources Stock Up 0.9%

Shares of PPTA traded up $0.18 during trading on Wednesday, reaching $20.56. The company’s stock had a trading volume of 486,859 shares, compared to its average volume of 1,537,906. The company has a market cap of $2.57 billion, a price-to-earnings ratio of -10.18 and a beta of 0.15. Perpetua Resources has a twelve month low of $16.43 and a twelve month high of $37.37. The company has a fifty day moving average of $23.30 and a two-hundred day moving average of $24.70.

Perpetua Resources (NASDAQ:PPTA) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.59). During the same quarter last year, the business earned $0.08 earnings per share. As a group, equities analysts forecast that Perpetua Resources will post -2.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Perpetua Resources

Several hedge funds and other institutional investors have recently made changes to their positions in PPTA. Hickory Point Bank & Trust grew its stake in shares of Perpetua Resources by 30.0% during the third quarter. Hickory Point Bank & Trust now owns 13,000 shares of the company’s stock worth $280,000 after purchasing an additional 3,000 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Perpetua Resources in the second quarter valued at about $41,000. NewEdge Advisors LLC lifted its holdings in shares of Perpetua Resources by 0.7% in the second quarter. NewEdge Advisors LLC now owns 77,500 shares of the company’s stock valued at $1,609,000 after purchasing an additional 525 shares in the last quarter. Compass Financial Management LLC bought a new stake in shares of Perpetua Resources in the second quarter valued at about $29,000. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of Perpetua Resources by 363.4% in the second quarter. Alyeska Investment Group L.P. now owns 1,099,408 shares of the company’s stock valued at $22,824,000 after purchasing an additional 862,143 shares in the last quarter. 70.07% of the stock is owned by institutional investors and hedge funds.

Perpetua Resources Company Profile

Perpetua Resources Corp. is a mineral development company focused on advancing the Stibnite Gold Project in central Idaho. The project is designed to produce gold and antimony, a critical mineral used in defense applications, energy technologies, flame retardants and other industrial products. The company is pursuing the project through its U.S. subsidiary, Stibnite Gold Project LLC.

The Stibnite Gold Project is located in the historic Stibnite-Yellow Pine mining district. Perpetua’s activities include permitting, engineering, environmental studies and project development, as well as planning for the restoration of legacy environmental impacts associated with earlier mining in the area.