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

Perpetua Resources (NASDAQ:PPTA)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a report issued on Wednesday, Benzinga reports. They currently have a $43.50 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 101.43% from the company’s current price.

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

Perpetua Resources Price Performance

Shares of Perpetua Resources stock traded up $0.07 on Wednesday, hitting $21.60. 589,079 shares of the company’s stock traded hands, compared to its average volume of 1,545,450. The firm’s 50-day moving average price is $23.13 and its two-hundred day moving average price is $24.91. The stock has a market capitalization of $2.70 billion, a PE ratio of -10.69 and a beta of 0.15. Perpetua Resources has a one year low of $16.43 and a one year high of $37.37.

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

Institutional Trading of Perpetua Resources

Hedge funds have recently added to or reduced their stakes in the stock. Paulson & CO. Inc. acquired a new stake in Perpetua Resources in the second quarter valued at approximately $671,530,000. Royal Bank of Canada lifted its holdings in shares of Perpetua Resources by 24.1% during the first quarter. Royal Bank of Canada now owns 485,118 shares of the company’s stock worth $13,641,000 after purchasing an additional 94,302 shares during the period. BlackRock Inc. acquired a new position in shares of Perpetua Resources during the second quarter worth $110,181,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Perpetua Resources by 3,480.2% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 251,152 shares of the company’s stock worth $5,214,000 after purchasing an additional 244,137 shares during the period. Finally, Purpose Unlimited Inc. acquired a new position in shares of Perpetua Resources during the fourth quarter worth $1,798,000. Institutional investors and hedge funds own 70.07% of the company’s stock.

About Perpetua Resources

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.