B. Riley Issues Positive Forecast for Perpetua Resources (NASDAQ:PPTA) Stock Price

Perpetua Resources (NASDAQ:PPTA - Get Free Report) had its target price raised by B. Riley from $16.00 to $17.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. B. Riley's price objective indicates a potential upside of 26.12% from the stock's previous close.

A number of other analysts have also recently commented on PPTA. National Bank Financial upgraded shares of Perpetua Resources to a "strong-buy" rating in a research note on Friday, March 21st. HC Wainwright reissued a "buy" rating and set a $27.50 target price on shares of Perpetua Resources in a report on Tuesday. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Perpetua Resources in a report on Wednesday, April 2nd. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $21.17.

Perpetua Resources Price Performance

Shares of Perpetua Resources stock traded up $0.41 during midday trading on Wednesday, reaching $13.48. The company had a trading volume of 1,806,509 shares, compared to its average volume of 832,385. The firm has a market cap of $964.29 million, a PE ratio of -46.41 and a beta of 0.02. Perpetua Resources has a fifty-two week low of $5.01 and a fifty-two week high of $17.96. The stock has a fifty day moving average price of $13.98 and a 200 day moving average price of $11.95.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.07). As a group, sell-side analysts forecast that Perpetua Resources will post -0.21 EPS for the current year.

Insider Activity

In other Perpetua Resources news, insider Mckinsey Margaret Lyon sold 20,000 shares of the company's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $11.00, for a total transaction of $220,000.00. Following the completion of the transaction, the insider now owns 89,154 shares of the company's stock, valued at $980,694. This represents a 18.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Paulson & Co. Inc. acquired 7,575,757 shares of the business's stock in a transaction dated Monday, June 16th. The stock was acquired at an average price of $13.20 per share, for a total transaction of $99,999,992.40. Following the completion of the transaction, the insider now owns 32,347,299 shares in the company, valued at approximately $426,984,346.80. The trade was a 30.58% increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Perpetua Resources

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can raised its stake in shares of Perpetua Resources by 1.6% in the fourth quarter. Bank of Montreal Can now owns 67,594 shares of the company's stock worth $721,000 after buying an additional 1,054 shares during the period. Corebridge Financial Inc. boosted its holdings in shares of Perpetua Resources by 7.8% during the 1st quarter. Corebridge Financial Inc. now owns 20,644 shares of the company's stock valued at $221,000 after purchasing an additional 1,498 shares during the last quarter. AQR Capital Management LLC grew its holdings in Perpetua Resources by 12.6% during the 1st quarter. AQR Capital Management LLC now owns 15,909 shares of the company's stock valued at $170,000 after buying an additional 1,780 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Perpetua Resources by 1.7% in the first quarter. Goldman Sachs Group Inc. now owns 108,921 shares of the company's stock valued at $1,164,000 after purchasing an additional 1,835 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Perpetua Resources by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,958 shares of the company's stock worth $672,000 after buying an additional 2,680 shares during the last quarter. Hedge funds and other institutional investors own 70.07% of the company's stock.

About Perpetua Resources

Perpetua Resources Corp. engages in the exploration and development of mineral properties in the United States. The company primarily explores for gold, silver, and antimony deposits. Its principal asset is the 100% owned Stibnite Gold project, which includes 1,672 unpatented lode claims, mill sites, and patented land holdings covering an area of approximately 11,548 hectares located in Valley County, Idaho.

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