Perpetua Resources (NASDAQ:PPTA) Stock Keeps “Buy” Rating at HC Wainwright

Perpetua Resources (NASDAQ:PPTA)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research note issued on Wednesday, Benzinga reports. They currently have a $43.50 price objective on the stock. HC Wainwright’s target price indicates a potential upside of 101.67% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a research report on Friday, July 17th. Zacks Research upgraded Perpetua Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. B. Riley Financial assumed coverage on Perpetua Resources in a research note on Monday, August 3rd. They issued a “buy” rating and a $30.00 target price for the company. Finally, Scotiabank assumed coverage on Perpetua Resources in a research note on Tuesday, September 1st. They issued a “sector outperform” rating for the company. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.90.

Perpetua Resources Price Performance

NASDAQ PPTA traded up $0.04 during midday trading on Wednesday, hitting $21.57. 794,506 shares of the company traded hands, compared to its average volume of 1,546,969. The company has a market cap of $2.70 billion, a PE ratio of -10.68 and a beta of 0.15. The company’s 50-day simple moving average is $23.13 and its 200-day simple moving average is $24.91. Perpetua Resources has a 52 week low of $16.43 and a 52 week high of $37.37.

Perpetua Resources (NASDAQ:PPTA) last announced its earnings results on Friday, August 14th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.59). During the same quarter last year, the company earned $0.08 earnings per share. On average, research analysts predict that Perpetua Resources will post -2.16 earnings per share for the current year.

Hedge Funds Weigh In On Perpetua Resources

Institutional investors and hedge funds have recently modified their holdings of the business. Paulson & CO. Inc. purchased a new position in shares of Perpetua Resources in the 2nd quarter valued at about $671,530,000. BlackRock Inc. acquired a new stake in Perpetua Resources in the 2nd quarter worth about $110,181,000. Amundi boosted its holdings in Perpetua Resources by 37.3% in the 1st quarter. Amundi now owns 1,384,758 shares of the company’s stock worth $38,939,000 after buying an additional 375,962 shares during the last quarter. Alyeska Investment Group L.P. boosted its holdings in Perpetua Resources by 363.4% in the 2nd quarter. Alyeska Investment Group L.P. now owns 1,099,408 shares of the company’s stock worth $22,824,000 after buying an additional 862,143 shares during the last quarter. Finally, Capital World Investors acquired a new stake in Perpetua Resources in the 4th quarter worth about $19,639,000. Hedge funds and other institutional investors own 70.07% of the company’s stock.

Perpetua Resources Company Profile

Perpetua Resources Corp. is a mineral development company focused on advancing the Stibnite Gold Project in central Idaho. The project is designed to produce gold and antimony, a critical mineral used in defense applications, energy technologies, flame retardants and other industrial products. The company is pursuing the project through its U.S. subsidiary, Stibnite Gold Project LLC.

The Stibnite Gold Project is located in the historic Stibnite-Yellow Pine mining district. Perpetua’s activities include permitting, engineering, environmental studies and project development, as well as planning for the restoration of legacy environmental impacts associated with earlier mining in the area.