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

Perpetua Resources (NASDAQ:PPTA)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a report issued on Wednesday, Marketbeat.com reports. They currently have a $43.50 price objective on the stock. HC Wainwright’s price target points to a potential upside of 107.84% from the company’s previous close.

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

Perpetua Resources Stock Performance

NASDAQ PPTA traded down $0.64 during trading on Wednesday, reaching $20.93. 1,288,589 shares of the company’s stock were exchanged, compared to its average volume of 1,544,563. The company has a 50 day moving average price of $23.19 and a two-hundred day moving average price of $24.84. The stock has a market cap of $2.62 billion, a P/E ratio of -10.36 and a beta of 0.15. Perpetua Resources has a 1 year low of $16.43 and a 1 year high of $37.37.

Perpetua Resources (NASDAQ:PPTA) last issued its quarterly earnings data 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 period in the prior year, the firm earned $0.08 earnings per share. Research analysts forecast that Perpetua Resources will post -2.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Paulson & CO. Inc. bought a new position in shares of Perpetua Resources in the second quarter worth $671,530,000. BlackRock Inc. bought a new stake in shares of Perpetua Resources during the second quarter valued at about $110,181,000. Alyeska Investment Group L.P. raised its stake in shares of Perpetua Resources by 363.4% during 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. Capital World Investors acquired a new stake in Perpetua Resources in the fourth quarter worth about $19,639,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Perpetua Resources in the 2nd quarter valued at about $15,128,000. 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.