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

Perpetua Resources (NASDAQ:PPTA)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a report issued on Wednesday, MarketBeat.com reports. They presently have a $43.50 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 106.05% from the company’s previous close.

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

Perpetua Resources Stock Performance

Shares of NASDAQ:PPTA traded down $0.46 during mid-day trading on Wednesday, reaching $21.11. 382,681 shares of the company’s stock were exchanged, compared to its average volume of 1,540,638. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -10.45 and a beta of 0.15. The business’s fifty day moving average price is $23.19 and its 200-day moving average price is $24.84. Perpetua Resources has a twelve month low of $16.43 and a twelve month high of $37.37.

Perpetua Resources (NASDAQ:PPTA) last issued its quarterly 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 period in the prior year, the business posted $0.08 EPS. Analysts predict that Perpetua Resources will post -2.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Perpetua Resources

Several hedge funds and other institutional investors have recently bought and sold shares of PPTA. Integrated Wealth Concepts LLC bought a new stake in Perpetua Resources in the second quarter valued at $41,000. NewEdge Advisors LLC increased its stake in Perpetua Resources by 0.7% in the second quarter. NewEdge Advisors LLC now owns 77,500 shares of the company’s stock valued at $1,609,000 after purchasing an additional 525 shares in the last quarter. Compass Financial Management LLC bought a new stake in Perpetua Resources in the second quarter valued at $29,000. Alyeska Investment Group L.P. increased its stake in Perpetua Resources by 363.4% in the second quarter. Alyeska Investment Group L.P. now owns 1,099,408 shares of the company’s stock valued at $22,824,000 after purchasing an additional 862,143 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Perpetua Resources by 3,480.2% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 251,152 shares of the company’s stock valued at $5,214,000 after purchasing an additional 244,137 shares in the last quarter. 70.07% of the stock is owned by institutional investors.

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.