Perpetua Resources’ (PPTA) “Buy” Rating Reaffirmed at HC Wainwright

Perpetua Resources (NASDAQ:PPTA)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a report released on Tuesday,Benzinga reports. They presently have a $27.50 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 104.92% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. National Bank Financial raised Perpetua Resources to a “strong-buy” rating in a report on Friday, March 21st. National Bankshares reissued an “outperform” rating on shares of Perpetua Resources in a report on Wednesday, April 2nd. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Perpetua Resources currently has an average rating of “Buy” and an average target price of $21.17.

Perpetua Resources Stock Performance

Shares of PPTA stock opened at $13.42 on Tuesday. The stock’s fifty day moving average price is $14.03 and its two-hundred day moving average price is $11.96. The company has a market cap of $960.07 million, a PE ratio of -46.28 and a beta of 0.02. Perpetua Resources has a fifty-two week low of $5.01 and a fifty-two week high of $17.96.

Perpetua Resources (NASDAQ:PPTA) last released its quarterly earnings data on Friday, May 9th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.07). On average, equities analysts predict that Perpetua Resources will post -0.21 EPS for the current fiscal year.

Insider Activity at Perpetua Resources

In related news, major shareholder Paulson & Co. Inc. bought 7,575,757 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was acquired at an average cost of $13.20 per share, with a total value of $99,999,992.40. Following the transaction, the insider now directly owns 32,347,299 shares in the company, valued at approximately $426,984,346.80. This trade represents a 30.58% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Stephen Wright sold 6,500 shares of the firm’s stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $13.85, for a total value of $90,025.00. Following the transaction, the insider now directly owns 14,195 shares of the company’s stock, valued at approximately $196,600.75. This represents a 31.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PPTA. Encompass Capital Advisors LLC bought a new position in Perpetua Resources during the 1st quarter worth $15,745,000. Millennium Management LLC raised its position in Perpetua Resources by 219.0% during the 1st quarter. Millennium Management LLC now owns 1,181,899 shares of the company’s stock worth $12,634,000 after purchasing an additional 811,363 shares during the last quarter. Amundi bought a new position in Perpetua Resources during the 4th quarter worth $7,788,000. Sprott Inc. raised its position in Perpetua Resources by 15.5% during the 1st quarter. Sprott Inc. now owns 3,395,395 shares of the company’s stock worth $36,297,000 after purchasing an additional 456,524 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new position in Perpetua Resources during the 1st quarter worth $2,734,000. 70.07% of the stock is owned by institutional investors.

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.