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

Key Points

• HC Wainwright reaffirmed its “Buy” rating on Perpetua Resources and set a $43.50 price target, implying 78.35% upside from the prior close.
• Analyst sentiment is generally positive, with four Buy ratings, one Hold and one Sell; the consensus rating is “Moderate Buy” with a $35.90 target price.
• Perpetua reported quarterly EPS of -$0.78, missing the -$0.19 consensus estimate, while institutional investors own approximately 70.07% of the company.

Perpetua Resources (NASDAQ:PPTA - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They presently have a $43.50 price objective on the stock. HC Wainwright's target price points to a potential upside of 78.35% from the stock's previous close.

Several other analysts have also issued reports on the stock. B. Riley Financial assumed coverage on shares of Perpetua Resources in a research report on Monday, August 3rd. They set a "buy" rating and a $30.00 price target for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Perpetua Resources in a report on Friday, July 17th. Finally, Zacks Research upgraded shares of Perpetua Resources from a "strong sell" rating to a "hold" rating in a report on Monday, June 8th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $35.90.

Perpetua Resources Stock Down 3.4%

Shares of NASDAQ PPTA opened at $24.39 on Tuesday. The stock's 50-day simple moving average is $21.23 and its two-hundred day simple moving average is $26.38. The firm has a market capitalization of $3.05 billion, a P/E ratio of -12.07 and a beta of 0.09. Perpetua Resources has a twelve month low of $16.28 and a twelve month high of $37.37.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last released its earnings results on Friday, August 14th. The company reported ($0.78) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.59). During the same quarter last year, the company earned $0.08 earnings per share. As a group, research analysts anticipate that Perpetua Resources will post -1.42 EPS for the current fiscal year.

Institutional Trading of Perpetua Resources

Several institutional investors have recently bought and sold shares of PPTA. Osterweis Capital Management Inc. bought a new position in shares of Perpetua Resources during the 2nd quarter valued at $26,000. Smartleaf Asset Management LLC purchased a new stake in Perpetua Resources in the fourth quarter worth $31,000. UMB Bank n.a. bought a new stake in shares of Perpetua Resources during the fourth quarter worth $36,000. Kestra Advisory Services LLC bought a new stake in shares of Perpetua Resources during the fourth quarter worth $40,000. Finally, Pilgrim Partners Asia Pte Ltd boosted its stake in shares of Perpetua Resources by 225.0% during the fourth quarter. Pilgrim Partners Asia Pte Ltd now owns 2,600 shares of the company's stock valued at $63,000 after purchasing an additional 1,800 shares during the period. 70.07% of the stock is owned by hedge funds and other institutional investors.

About Perpetua Resources

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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