HC Wainwright Increases Perpetua Resources (NASDAQ:PPTA) Price Target to $28.00

Perpetua Resources (NASDAQ:PPTA) had its price objective boosted by investment analysts at HC Wainwright from $25.00 to $28.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 144.33% from the stock’s current price.

Separately, Roth Mkm boosted their target price on Perpetua Resources from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th.

Perpetua Resources Price Performance

Shares of Perpetua Resources stock opened at $11.46 on Friday. The business’s 50 day simple moving average is $10.56 and its two-hundred day simple moving average is $10.24. The stock has a market capitalization of $806.11 million, a P/E ratio of -52.09 and a beta of 0.27. Perpetua Resources has a one year low of $4.02 and a one year high of $13.23.

Perpetua Resources (NASDAQ:PPTA) last announced its quarterly earnings results on Wednesday, March 19th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. Sell-side analysts expect that Perpetua Resources will post -0.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Andrew Phillip Cole purchased 9,450 shares of Perpetua Resources stock in a transaction that occurred on Monday, February 24th. The shares were bought at an average cost of $7.99 per share, with a total value of $75,505.50. Following the completion of the purchase, the director now directly owns 9,450 shares in the company, valued at approximately $75,505.50. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alan Douglas Haslam sold 10,400 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $9.24, for a total value of $96,096.00. Following the completion of the sale, the insider now directly owns 65,763 shares in the company, valued at approximately $607,650.12. The trade was a 13.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought a total of 20,230 shares of company stock valued at $166,582 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Perpetua Resources

Several hedge funds have recently added to or reduced their stakes in the stock. Sprott Inc. boosted its holdings in Perpetua Resources by 5.3% in the fourth quarter. Sprott Inc. now owns 2,938,871 shares of the company’s stock worth $31,358,000 after acquiring an additional 148,273 shares in the last quarter. Condire Management LP boosted its holdings in Perpetua Resources by 6.9% in the fourth quarter. Condire Management LP now owns 890,459 shares of the company’s stock worth $9,501,000 after acquiring an additional 57,399 shares in the last quarter. Amundi bought a new stake in Perpetua Resources in the fourth quarter worth $7,788,000. State Street Corp boosted its holdings in Perpetua Resources by 8.8% in the third quarter. State Street Corp now owns 593,502 shares of the company’s stock worth $5,549,000 after acquiring an additional 48,220 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Perpetua Resources by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 489,958 shares of the company’s stock valued at $5,228,000 after purchasing an additional 5,129 shares in the last quarter. 70.07% of the stock is owned by institutional investors.

Perpetua Resources Company Profile

Perpetua Resources Corp. engages in the exploration and development of mineral properties in the United States. The company primarily explores for gold, silver, and antimony deposits. Its principal asset is the 100% owned Stibnite Gold project, which includes 1,672 unpatented lode claims, mill sites, and patented land holdings covering an area of approximately 11,548 hectares located in Valley County, Idaho.