Perpetua Resources' (PPTA) "Buy" Rating Reiterated at B. Riley

B. Riley restated their buy rating on shares of Perpetua Resources (NASDAQ:PPTA - Free Report) in a research report released on Wednesday, Marketbeat reports. B. Riley currently has a $17.00 price objective on the stock, up from their previous price objective of $16.00.

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

Perpetua Resources Stock Down 3.2%

Perpetua Resources stock traded down $0.43 during midday trading on Wednesday, hitting $12.99. 3,819,377 shares of the stock were exchanged, compared to its average volume of 865,408. Perpetua Resources has a 52 week low of $5.01 and a 52 week high of $17.96. The company has a fifty day simple moving average of $14.10 and a two-hundred day simple moving average of $12.01. The stock has a market capitalization of $929.30 million, a PE ratio of -44.79 and a beta of 0.02.

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

Insider Transactions at Perpetua Resources

In related news, insider Michael Stephen Wright sold 6,500 shares of the business's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $13.85, for a total transaction of $90,025.00. Following the transaction, the insider now directly owns 14,195 shares in the company, valued at approximately $196,600.75. The trade was a 31.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Paulson & Co. Inc. bought 7,575,757 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were purchased at an average price of $13.20 per share, for a total transaction of $99,999,992.40. Following the completion of the acquisition, the insider now owns 32,347,299 shares of the company's stock, valued at $426,984,346.80. The trade was a 30.58% increase in their position. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Perpetua Resources

A number of institutional investors have recently added to or reduced their stakes in PPTA. Ancora Advisors LLC acquired a new position in shares of Perpetua Resources in the fourth quarter valued at $37,000. GAMMA Investing LLC increased its holdings in shares of Perpetua Resources by 1,658.4% in the first quarter. GAMMA Investing LLC now owns 4,308 shares of the company's stock valued at $46,000 after purchasing an additional 4,063 shares during the last quarter. North Capital Inc. acquired a new position in shares of Perpetua Resources in the first quarter valued at $53,000. BNP Paribas Financial Markets acquired a new position in shares of Perpetua Resources in the fourth quarter valued at $55,000. Finally, Quantbot Technologies LP acquired a new position in shares of Perpetua Resources in the first quarter valued at $76,000. 70.07% of the stock is currently owned by institutional investors and hedge funds.

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.