Perpetua Resources' (PPTA) Buy Rating Reiterated at HC Wainwright

Perpetua Resources (NASDAQ:PPTA - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They presently have a $27.50 price target on the stock. HC Wainwright's price target would indicate a potential upside of 111.70% from the stock's current price.

PPTA has been the topic of a number of other reports. National Bank Financial raised shares of Perpetua Resources to a "strong-buy" rating in a research report on Friday, March 21st. National Bankshares restated an "outperform" rating on shares of Perpetua Resources in a research note on Wednesday, April 2nd. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $21.17.

Perpetua Resources Price Performance

Shares of PPTA traded down $0.43 during mid-day trading on Tuesday, reaching $12.99. The company's stock had a trading volume of 3,818,778 shares, compared to its average volume of 862,757. Perpetua Resources has a 12-month low of $5.01 and a 12-month high of $17.96. The stock has a market cap of $929.30 million, a PE ratio of -44.79 and a beta of 0.02. The company's 50 day moving average is $14.07 and its 200 day moving average is $11.99.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.07). As a group, sell-side analysts anticipate that Perpetua Resources will post -0.21 EPS for the current fiscal year.

Insider Buying and Selling at Perpetua Resources

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

Institutional Investors Weigh In On Perpetua Resources

Several hedge funds have recently made changes to their positions in the business. Ancora Advisors LLC purchased a new stake in Perpetua Resources during the 4th quarter valued at approximately $37,000. GAMMA Investing LLC grew its stake in shares of Perpetua Resources by 1,658.4% in the 1st 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 approximately $53,000. BNP Paribas Financial Markets purchased a new stake in shares of Perpetua Resources during the fourth quarter worth approximately $55,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Perpetua Resources during the first quarter worth approximately $76,000. Institutional investors and hedge funds 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.