Perpetua Resources (NASDAQ:PPTA) Earns Buy Rating from HC Wainwright

Perpetua Resources (NASDAQ:PPTA)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued on Wednesday, MarketBeat Ratings reports. They presently have a $43.50 price objective on the stock. HC Wainwright’s target price suggests a potential upside of 113.97% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. B. Riley Financial started coverage on shares of Perpetua Resources in a research report on Monday, August 3rd. They issued a “buy” rating and a $30.00 price target on the stock. Scotiabank started coverage on shares of Perpetua Resources in a research report on Tuesday, September 1st. They issued a “sector outperform” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Perpetua Resources in a report on Friday, July 17th. Finally, Zacks Research upgraded Perpetua Resources from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Five research 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.90.

Perpetua Resources Stock Down 0.2%

Perpetua Resources stock traded down $0.05 during midday trading on Wednesday, hitting $20.33. The company’s stock had a trading volume of 1,245,618 shares, compared to its average volume of 1,542,061. The stock’s 50-day moving average price is $23.30 and its 200-day moving average price is $24.70. Perpetua Resources has a 12 month low of $16.43 and a 12 month high of $37.37. The company has a market capitalization of $2.54 billion, a PE ratio of -10.06 and a beta of 0.15.

Perpetua Resources (NASDAQ:PPTA) last issued its quarterly 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 period in the previous year, the company posted $0.08 EPS. As a group, equities analysts anticipate that Perpetua Resources will post -2.16 EPS for the current year.

Institutional Trading of Perpetua Resources

Several institutional investors and hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC raised its holdings in Perpetua Resources by 0.7% during the 2nd quarter. NewEdge Advisors LLC now owns 77,500 shares of the company’s stock worth $1,609,000 after buying an additional 525 shares during the period. Continuum Advisory LLC increased its holdings in shares of 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 purchasing an additional 994 shares during the period. Cetera Investment Advisers increased its holdings in shares of Perpetua Resources by 6.3% in the 1st quarter. Cetera Investment Advisers now owns 17,646 shares of the company’s stock valued at $496,000 after purchasing an additional 1,052 shares during the period. Osterweis Capital Management Inc. acquired a new position in shares of Perpetua Resources in the 2nd quarter valued at about $26,000. Finally, Compass Financial Management LLC acquired a new position in shares of Perpetua Resources in the 2nd quarter valued at about $29,000. Institutional investors and hedge funds own 70.07% of the company’s stock.

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.