HC Wainwright Reaffirms “Buy” Rating for Perpetua Resources (NASDAQ:PPTA)

Perpetua Resources (NASDAQ:PPTA)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. They presently have a $43.50 price objective on the stock. HC Wainwright’s target price indicates a potential upside of 112.72% from the stock’s previous close.

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

Perpetua Resources Stock Up 0.3%

NASDAQ PPTA traded up $0.07 during trading hours on Wednesday, hitting $20.45. The company had a trading volume of 221,650 shares, compared to its average volume of 1,536,482. The firm has a market cap of $2.56 billion, a P/E ratio of -10.07 and a beta of 0.15. Perpetua Resources has a fifty-two week low of $16.43 and a fifty-two week high of $37.37. The business has a fifty day simple moving average of $23.30 and a 200-day simple moving average of $24.70.

Perpetua Resources (NASDAQ:PPTA) last announced 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 in the prior year, the business earned $0.08 EPS. Equities analysts forecast that Perpetua Resources will post -2.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Perpetua Resources

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 second quarter. NewEdge Advisors LLC now owns 77,500 shares of the company’s stock worth $1,609,000 after purchasing an additional 525 shares in the last quarter. Continuum Advisory LLC lifted its position in Perpetua Resources by 8.5% in the first quarter. Continuum Advisory LLC now owns 12,736 shares of the company’s stock worth $358,000 after purchasing an additional 994 shares during the period. Cetera Investment Advisers boosted its stake in Perpetua Resources by 6.3% during 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 in the last quarter. Osterweis Capital Management Inc. acquired a new position in shares of Perpetua Resources during the 2nd quarter valued at $26,000. Finally, Compass Financial Management LLC acquired a new position in shares of Perpetua Resources during the 2nd quarter valued at $29,000. Institutional investors 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.