Perpetua Resources (NASDAQ:PPTA) Given "Buy" Rating at HC Wainwright

Key Points

• HC Wainwright has reiterated a "buy" rating for Perpetua Resources (NASDAQ:PPTA), setting a target price of $30.00, which suggests a potential upside of 59.07% from its current price.
• Perpetua Resources has received multiple "buy" ratings from analysts, with a consensus rating of "Buy" and an average price target of $23.75.
• The company's shares recently opened at $18.86, with a significant market cap of $2.03 billion and a price-to-earnings ratio of -60.84.

Perpetua Resources (NASDAQ:PPTA - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They presently have a $30.00 target price on the stock. HC Wainwright's target price would indicate a potential upside of 59.07% from the stock's current price.

A number of other analysts also recently commented on PPTA. B. Riley boosted their price objective on shares of Perpetua Resources from $17.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Roth Capital reissued a "buy" rating on shares of Perpetua Resources in a report on Monday. National Bankshares reissued an "outperform" rating on shares of Perpetua Resources in a report on Wednesday, June 18th. Wall Street Zen raised shares of Perpetua Resources from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Royal Bank Of Canada began coverage on shares of Perpetua Resources in a report on Friday, July 18th. They set an "outperform" rating and a $23.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $23.75.

Perpetua Resources Stock Up 3.0%

Shares of Perpetua Resources stock opened at $18.86 on Tuesday. Perpetua Resources has a 52-week low of $7.81 and a 52-week high of $19.75. The company's 50-day simple moving average is $17.24 and its 200-day simple moving average is $14.38. The firm has a market cap of $2.03 billion and a price-to-earnings ratio of -60.84.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.06. Equities research analysts anticipate that Perpetua Resources will post -0.21 EPS for the current year.

Insider Buying and Selling

In related news, insider Michael Stephen Wright sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $18.31, for a total transaction of $183,100.00. Following the completion of the transaction, the insider owned 14,195 shares of the company's stock, valued at approximately $259,910.45. This represents a 41.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On Perpetua Resources

Several institutional investors and hedge funds have recently bought and sold shares of PPTA. BNP Paribas Financial Markets acquired a new position in Perpetua Resources during the fourth quarter worth approximately $55,000. Bank of America Corp DE increased its position in Perpetua Resources by 13.7% during the fourth quarter. Bank of America Corp DE now owns 55,413 shares of the company's stock worth $591,000 after purchasing an additional 6,661 shares during the last quarter. Deutsche Bank AG increased its position in Perpetua Resources by 64.0% during the fourth quarter. Deutsche Bank AG now owns 30,891 shares of the company's stock worth $330,000 after purchasing an additional 12,060 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Perpetua Resources by 186.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,278 shares of the company's stock worth $644,000 after purchasing an additional 39,219 shares during the last quarter. Finally, Millennium Management LLC increased its position in Perpetua Resources by 226.7% during the fourth quarter. Millennium Management LLC now owns 370,536 shares of the company's stock worth $3,954,000 after purchasing an additional 257,130 shares during the last quarter. 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.

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