B. Riley Forecasts Strong Price Appreciation for Perpetua Resources (NASDAQ:PPTA) Stock

Perpetua Resources (NASDAQ:PPTA) had its target price increased by B. Riley from $17.00 to $23.00 in a research note issued on Wednesday, MarketBeat.com reports. The firm presently has a “buy” rating on the stock. B. Riley’s price target would suggest a potential upside of 33.64% from the stock’s previous close.

A number of other research firms also recently issued reports on PPTA. HC Wainwright increased their price objective on shares of Perpetua Resources from $27.50 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Royal Bank Of Canada assumed coverage on shares of Perpetua Resources in a research note on Friday, July 18th. They issued an “outperform” rating and a $23.00 target price for the company. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Perpetua Resources in a report on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $23.75.

Perpetua Resources Stock Performance

NASDAQ PPTA opened at $17.21 on Wednesday. The firm’s 50 day moving average price is $16.66 and its 200-day moving average price is $13.86. Perpetua Resources has a 52-week low of $7.81 and a 52-week high of $19.75. The company has a market cap of $1.85 billion and a PE ratio of -55.51.

Perpetua Resources (NASDAQ:PPTA) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.06. On average, analysts forecast that Perpetua Resources will post -0.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Perpetua Resources

In other Perpetua Resources news, insider Michael Stephen Wright sold 10,000 shares of Perpetua Resources stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $18.31, for a total value of $183,100.00. Following the transaction, the insider directly owned 14,195 shares of the company’s stock, valued at approximately $259,910.45. The trade was a 41.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Paulson & Co. Inc. purchased 7,575,757 shares of the business’s stock in a transaction on Monday, June 16th. The stock was purchased at an average cost of $13.20 per share, for a total transaction of $99,999,992.40. Following the completion of the acquisition, the insider directly owned 32,347,299 shares of the company’s stock, valued at approximately $426,984,346.80. The trade was a 30.58% increase in their position. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Perpetua Resources

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lowe Wealth Advisors LLC acquired a new stake in shares of Perpetua Resources during the second quarter worth $26,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Perpetua Resources during the second quarter worth $31,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Perpetua Resources during the second quarter worth $39,000. GAMMA Investing LLC lifted its stake in shares of Perpetua Resources by 1,658.4% during the first quarter. GAMMA Investing LLC now owns 4,308 shares of the company’s stock worth $46,000 after buying an additional 4,063 shares during the period. Finally, North Capital Inc. acquired a new stake in shares of Perpetua Resources during the first quarter worth $53,000. 70.07% of the stock is currently owned by institutional investors and hedge funds.

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.