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

Perpetua Resources (NASDAQ:PPTA)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a report released on Tuesday,Benzinga reports. They currently have a $43.50 target price on the stock. HC Wainwright’s price objective would indicate a potential upside of 78.35% from the company’s current price.

Several other analysts have also commented on the company. Zacks Research upgraded Perpetua Resources from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a report on Friday, July 17th. Finally, B. Riley Financial started coverage on shares of Perpetua Resources in a report on Monday, August 3rd. They set a “buy” rating and a $30.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Perpetua Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.90.

Perpetua Resources Stock Down 3.4%

Shares of NASDAQ:PPTA opened at $24.39 on Tuesday. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of -12.07 and a beta of 0.09. The firm has a 50 day moving average of $21.23 and a 200 day moving average of $26.38. Perpetua Resources has a 52 week low of $16.28 and a 52 week high of $37.37.

Perpetua Resources (NASDAQ:PPTA) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.59). During the same period in the previous year, the firm posted $0.08 earnings per share. On average, sell-side analysts expect that Perpetua Resources will post -1.42 EPS for the current year.

Institutional Trading of Perpetua Resources

Several large investors have recently made changes to their positions in the business. IFP Advisors Inc raised its stake in shares of Perpetua Resources by 0.8% during the 4th quarter. IFP Advisors Inc now owns 50,405 shares of the company’s stock valued at $1,220,000 after buying an additional 405 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Perpetua Resources by 21.0% during the 4th quarter. Farther Finance Advisors LLC now owns 3,123 shares of the company’s stock worth $76,000 after acquiring an additional 541 shares in the last quarter. Benjamin Edwards Inc. boosted its position in Perpetua Resources by 0.5% during the fourth quarter. Benjamin Edwards Inc. now owns 102,645 shares of the company’s stock worth $2,485,000 after purchasing an additional 543 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Perpetua Resources by 4.6% in the second quarter. Tower Research Capital LLC TRC now owns 15,872 shares of the company’s stock valued at $193,000 after buying an additional 697 shares in the last quarter. Finally, Continuum Advisory LLC lifted its position in shares of Perpetua Resources by 8.5% during the 1st quarter. Continuum Advisory LLC now owns 12,736 shares of the company’s stock valued at $358,000 after buying an additional 994 shares in the last quarter. 70.07% of the stock is owned by hedge funds and other institutional investors.

About Perpetua Resources

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.