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

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

PPTA has been the subject of several other reports. Scotiabank began coverage on shares of Perpetua Resources in a research report on Tuesday, September 1st. They set a “sector outperform” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Perpetua Resources in a research note on Friday, July 17th. B. Riley Financial initiated coverage on Perpetua Resources in a report on Monday, August 3rd. They issued a “buy” rating and a $30.00 price target for the company. Finally, Zacks Research upgraded Perpetua Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Perpetua Resources has a consensus rating of “Moderate Buy” and a consensus price target of $35.90.

Perpetua Resources Stock Performance

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

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Paulson & CO. Inc. acquired a new position in Perpetua Resources during the second quarter valued at approximately $671,530,000. BlackRock Inc. acquired a new position in shares of Perpetua Resources during the second quarter worth about $110,181,000. Alyeska Investment Group L.P. grew its stake in shares of Perpetua Resources by 363.4% during the 2nd quarter. Alyeska Investment Group L.P. now owns 1,099,408 shares of the company’s stock worth $22,824,000 after acquiring an additional 862,143 shares in the last quarter. Capital World Investors bought a new position in Perpetua Resources in the fourth quarter valued at $19,639,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Perpetua Resources in the 2nd quarter valued at about $15,128,000. 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.