HC Wainwright Reaffirms “Buy” Rating for Perpetua Resources (NASDAQ:PPTA)

Perpetua Resources (NASDAQ:PPTA)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research report issued on Wednesday,Benzinga reports. They currently have a $41.00 target price on the stock. HC Wainwright’s target price would suggest a potential upside of 39.60% from the stock’s previous close.

Several other equities analysts have also commented on PPTA. B. Riley Financial boosted their price target on Perpetua Resources from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Perpetua Resources Stock Performance

Perpetua Resources stock opened at $29.37 on Wednesday. The stock’s 50 day moving average price is $29.86 and its 200 day moving average price is $27.04. The firm has a market capitalization of $3.67 billion, a PE ratio of -27.97 and a beta of 0.15. Perpetua Resources has a one year low of $9.28 and a one year high of $37.37.

Perpetua Resources (NASDAQ:PPTA) last released its quarterly earnings results on Tuesday, March 31st. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.60). On average, analysts forecast that Perpetua Resources will post -0.21 earnings per share for the current fiscal year.

Insider Activity at Perpetua Resources

In other news, insider Mckinsey Margaret Lyon sold 43,722 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $27.57, for a total transaction of $1,205,415.54. Following the completion of the transaction, the insider directly owned 132,110 shares in the company, valued at approximately $3,642,272.70. This represents a 24.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan Cherry sold 4,079 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $29.31, for a total value of $119,555.49. Following the transaction, the insider owned 44,895 shares of the company’s stock, valued at approximately $1,315,872.45. This trade represents a 8.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 56,500 shares of company stock valued at $1,581,853. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Perpetua Resources

Institutional investors and hedge funds have recently made changes to their positions in the business. Y Intercept Hong Kong Ltd raised its position in shares of Perpetua Resources by 73.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 101,353 shares of the company’s stock valued at $2,050,000 after acquiring an additional 43,086 shares in the last quarter. TD Asset Management Inc acquired a new stake in shares of Perpetua Resources during the 3rd quarter valued at approximately $2,648,000. Benjamin Edwards Inc. acquired a new stake in shares of Perpetua Resources during the 3rd quarter valued at approximately $2,066,000. CIBC Asset Management Inc acquired a new stake in shares of Perpetua Resources during the 3rd quarter valued at approximately $1,239,000. Finally, Hohimer Wealth Management LLC acquired a new stake in shares of Perpetua Resources during the 3rd quarter valued at approximately $1,812,000. 70.07% of the stock is currently owned by hedge funds and other institutional investors.

Perpetua Resources Company Profile

Perpetua Resources Inc (NASDAQ: PPTA), formerly known as eCobalt Solutions Inc, is a mineral exploration and development company focused on critical metals that support the global clean-energy transition. The company’s primary objective is to advance its flagship Idaho Cobalt Project, a permitted underground mine located near Stibnite, Idaho. This project is designed to produce cobalt, copper, gold and silver, with an emphasis on providing responsibly sourced materials to North American battery and technology markets.

In addition to its Idaho Cobalt Project, Perpetua Resources holds exploration licenses and mineral tenures across the United States and Canada.