Perpetua Resources’ (PPTA) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Perpetua Resources (NASDAQ:PPTA) in a research report released on Wednesday, MarketBeat reports. The brokerage currently has a $43.50 price target on the stock.

PPTA has been the subject of a number of other reports. 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. 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. Zacks Research raised shares of Perpetua Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a research note on Friday, July 17th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.90.

Perpetua Resources Price Performance

PPTA opened at $20.38 on Wednesday. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of -10.09 and a beta of 0.15. The company’s 50 day simple moving average is $23.30 and its two-hundred day simple moving average is $24.75. Perpetua Resources has a 1-year low of $16.43 and a 1-year high of $37.37.

Perpetua Resources (NASDAQ:PPTA) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.59). During the same quarter last year, the firm posted $0.08 earnings per share. On average, equities analysts anticipate that Perpetua Resources will post -2.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Perpetua Resources

A number of institutional investors and hedge funds have recently made changes to their positions in PPTA. Paulson & CO. Inc. purchased a new position in shares of Perpetua Resources during the 2nd quarter worth approximately $671,530,000. BlackRock Inc. acquired a new position in Perpetua Resources during the second quarter worth $110,181,000. Royal Bank of Canada lifted its stake in Perpetua Resources by 24.1% during the first quarter. Royal Bank of Canada now owns 485,118 shares of the company’s stock worth $13,641,000 after purchasing an additional 94,302 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Perpetua Resources by 3,480.2% during 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 worth $5,214,000 after buying an additional 244,137 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Perpetua Resources in the second quarter valued at $4,802,000. 70.07% of the stock is owned by hedge funds and other institutional investors.

About Perpetua Resources

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.