HC Wainwright Issues Positive Forecast for Perpetua Resources (NASDAQ:PPTA) Stock Price

Perpetua Resources (NASDAQ:PPTA) had its target price raised by HC Wainwright from $13.25 to $22.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the stock. National Bank Financial began coverage on shares of Perpetua Resources in a research note on Friday, September 6th. They issued an “outperform” rating for the company. Roth Mkm increased their price objective on shares of Perpetua Resources from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd.

Perpetua Resources Price Performance

Shares of Perpetua Resources stock opened at $10.60 on Friday. Perpetua Resources has a fifty-two week low of $2.69 and a fifty-two week high of $10.75. The firm has a fifty day moving average price of $9.41 and a two-hundred day moving average price of $7.56. The company has a market cap of $705.64 million, a PE ratio of -48.18 and a beta of 0.27.

Insider Activity

In related news, insider Alan Douglas Haslam sold 40,000 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $10.07, for a total transaction of $402,800.00. Following the completion of the sale, the insider now owns 65,571 shares in the company, valued at $660,299.97. This trade represents a 37.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Perpetua Resources

A number of hedge funds have recently made changes to their positions in the company. Herr Investment Group LLC increased its position in shares of Perpetua Resources by 5.8% during the 2nd quarter. Herr Investment Group LLC now owns 1,450,498 shares of the company’s stock worth $7,543,000 after purchasing an additional 80,000 shares in the last quarter. Fourth Sail Capital LP acquired a new stake in shares of Perpetua Resources during the 3rd quarter worth about $10,405,000. State Street Corp increased its position in shares of Perpetua Resources by 8.8% during the 3rd quarter. State Street Corp now owns 593,502 shares of the company’s stock worth $5,549,000 after purchasing an additional 48,220 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Perpetua Resources by 1.6% during the 1st quarter. Russell Investments Group Ltd. now owns 581,600 shares of the company’s stock worth $2,419,000 after purchasing an additional 8,985 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Perpetua Resources by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 484,829 shares of the company’s stock worth $4,533,000 after purchasing an additional 2,252 shares in the last quarter. Institutional investors and hedge funds own 70.07% of the company’s stock.

About Perpetua Resources

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.