Perpetua Resources (NASDAQ:PPTA) Stock Rating Reaffirmed as Buy by HC Wainwright

Perpetua Resources (NASDAQ:PPTA - Get Free Report)'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 target on the stock. HC Wainwright's target price would indicate a potential upside of 100.92% from the stock's current price.

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

Perpetua Resources Stock Up 0.6%

Shares of PPTA stock traded up $0.12 during mid-day trading on Wednesday, reaching $21.65. The stock had a trading volume of 489,205 shares, compared to its average volume of 1,545,267. The firm's 50 day simple moving average is $23.13 and its 200 day simple moving average is $24.91. Perpetua Resources has a one year low of $16.43 and a one year high of $37.37. The firm has a market cap of $2.71 billion, a PE ratio of -10.73 and a beta of 0.15.

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

Hedge Funds Weigh In On Perpetua Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Paulson & CO. Inc. bought a new position in Perpetua Resources during the second quarter worth about $671,530,000. BlackRock Inc. acquired a new position in shares of Perpetua Resources in the second quarter valued at $110,181,000. Amundi increased its holdings in shares of Perpetua Resources by 37.3% in the first quarter. Amundi now owns 1,384,758 shares of the company's stock valued at $38,939,000 after purchasing an additional 375,962 shares during the last quarter. Alyeska Investment Group L.P. increased 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 during the last quarter. Finally, Capital World Investors acquired a new position in shares of Perpetua Resources in the fourth quarter valued at $19,639,000. 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.