Perpetua Resources (NASDAQ:PPTA) Receives "Buy" Rating from HC Wainwright

Key Points

• HC Wainwright reissued a "Buy" rating on Perpetua Resources with a $41 price target, implying roughly a 39.6% upside from the prior close.
• Analyst sentiment is mixed-but-positive with an overall Moderate Buy consensus (one Strong Buy, six Buy, one Sell) and an average price target of $35 per share.
• Perpetua missed quarterly expectations, reporting EPS of ($0.61) versus a ($0.01) estimate and projected -0.21 EPS for the year, while insiders sold 56,500 shares (~$1.58 million) in the last quarter.

Perpetua Resources (NASDAQ:PPTA - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They currently have a $41.00 price target on the stock. HC Wainwright's price target would indicate a potential upside of 39.60% from the company's previous close.

Other analysts have also recently issued research reports about the company. Weiss Ratings restated a "sell (d-)" rating on shares of Perpetua Resources in a report on Thursday, January 22nd. B. Riley Financial lifted their price target on Perpetua Resources from $30.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, March 18th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $35.00.

Perpetua Resources Trading Up 0.7%

Shares of PPTA stock opened at $29.37 on Wednesday. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of -27.97 and a beta of 0.15. The firm has a 50-day moving average price of $29.86 and a 200 day moving average price of $27.04. Perpetua Resources has a twelve month low of $9.28 and a twelve month high of $37.37.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.60). As a group, research analysts predict that Perpetua Resources will post -0.21 earnings per share for the current year.

Insider Transactions at Perpetua Resources

In other news, insider Mckinsey Margaret Lyon sold 8,699 shares of the business's stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $29.53, for a total transaction of $256,881.47. Following the completion of the sale, the insider owned 142,329 shares in the company, valued at approximately $4,202,975.37. The trade was a 5.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan Cherry sold 4,079 shares of the business's stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $29.31, for a total value of $119,555.49. Following the sale, the insider owned 44,895 shares of the company's stock, valued at $1,315,872.45. The trade was a 8.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 56,500 shares of company stock valued at $1,581,853 in the last quarter. Company insiders own 1.50% of the company's stock.

Institutional Trading of Perpetua Resources

A number of institutional investors have recently modified their holdings of the company. IFP Advisors Inc grew its holdings in shares of Perpetua Resources by 0.8% during the 4th quarter. IFP Advisors Inc now owns 50,405 shares of the company's stock worth $1,220,000 after purchasing an additional 405 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Perpetua Resources by 21.0% during the 4th quarter. Farther Finance Advisors LLC now owns 3,123 shares of the company's stock worth $76,000 after purchasing an additional 541 shares during the period. Benjamin Edwards Inc. grew its holdings in shares of Perpetua Resources by 0.5% during the 4th quarter. Benjamin Edwards Inc. now owns 102,645 shares of the company's stock worth $2,485,000 after purchasing an additional 543 shares during the period. Tower Research Capital LLC TRC lifted its position in Perpetua Resources by 4.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 15,872 shares of the company's stock worth $193,000 after acquiring an additional 697 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its position in Perpetua Resources by 50.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,751 shares of the company's stock worth $58,000 after acquiring an additional 925 shares in the last quarter. Hedge funds and other institutional investors own 70.07% of the company's stock.

Perpetua Resources Company Profile

Perpetua Resources Inc NASDAQ: PPTA, formerly known as eCobalt Solutions Inc, is a mineral exploration and development company focused on critical metals that support the global clean-energy transition. The company’s primary objective is to advance its flagship Idaho Cobalt Project, a permitted underground mine located near Stibnite, Idaho. This project is designed to produce cobalt, copper, gold and silver, with an emphasis on providing responsibly sourced materials to North American battery and technology markets.

In addition to its Idaho Cobalt Project, Perpetua Resources holds exploration licenses and mineral tenures across the United States and Canada.

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