HC Wainwright Reaffirms "Buy" Rating for Perpetua Resources (NASDAQ:PPTA)

Perpetua Resources (NASDAQ:PPTA - Get Free Report)'s stock had its "buy" rating restated by HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $27.50 price target on the stock. HC Wainwright's price target would suggest a potential upside of 111.54% from the company's current price.

A number of other research firms have also commented on PPTA. National Bank Financial raised Perpetua Resources to a "strong-buy" rating in a research note on Friday, March 21st. National Bankshares restated an "outperform" rating on shares of Perpetua Resources in a research report on Wednesday, April 2nd.

Perpetua Resources Price Performance

Shares of PPTA stock opened at $13.00 on Tuesday. The stock's fifty day simple moving average is $13.93 and its 200 day simple moving average is $11.95. Perpetua Resources has a one year low of $5.01 and a one year high of $17.96. The firm has a market cap of $930.06 million, a price-to-earnings ratio of -59.09 and a beta of 0.02.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last announced its 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). On average, research analysts anticipate that Perpetua Resources will post -0.21 earnings per share for the current year.

Insider Buying and Selling at Perpetua Resources

In other news, insider Michael Stephen Wright sold 6,500 shares of the business's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $13.85, for a total transaction of $90,025.00. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Paulson & Co. Inc. bought 7,575,757 shares of the stock in a transaction on Monday, June 16th. The stock was purchased at an average cost of $13.20 per share, with a total value of $99,999,992.40. Following the purchase, the insider now directly owns 32,347,299 shares of the company's stock, valued at approximately $426,984,346.80. This represents a 30.58% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Perpetua Resources

Several institutional investors and hedge funds have recently modified their holdings of the business. Ancora Advisors LLC acquired a new position in shares of Perpetua Resources in the fourth quarter valued at approximately $37,000. GAMMA Investing LLC lifted 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 in the last quarter. North Capital Inc. acquired a new position in shares of Perpetua Resources during the first quarter worth about $53,000. BNP Paribas Financial Markets bought a new position in shares of Perpetua Resources during the fourth quarter worth about $55,000. Finally, Quantbot Technologies LP bought a new stake in Perpetua Resources in the 1st quarter valued at approximately $76,000. 70.07% of the stock is currently owned by institutional investors and hedge funds.

Perpetua Resources Company Profile

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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