Perpetua Resources (NASDAQ:PPTA) Receives “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Perpetua Resources (NASDAQ:PPTA) in a report released on Wednesday morning,Benzinga reports. They currently have a $41.00 target price on the stock.

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

Perpetua Resources Stock Performance

Shares of NASDAQ PPTA opened at $29.79 on Wednesday. The stock has a market cap of $3.72 billion, a P/E ratio of -28.37 and a beta of 0.15. The firm has a 50 day moving average price of $29.77 and a 200 day moving average price of $27.06. Perpetua Resources has a 52-week low of $9.75 and a 52-week high of $37.37.

Perpetua Resources (NASDAQ:PPTA) last issued its quarterly earnings data on Tuesday, March 31st. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.60). Analysts predict that Perpetua Resources will post -0.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mckinsey Margaret Lyon sold 8,699 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $29.53, for a total value of $256,881.47. Following the sale, the insider owned 142,329 shares of the company’s stock, valued at $4,202,975.37. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jonathan Cherry sold 4,079 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $29.31, for a total transaction of $119,555.49. Following the completion of the sale, the insider directly owned 44,895 shares in the company, valued at approximately $1,315,872.45. This represents a 8.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 56,500 shares of company stock worth $1,581,853. 1.50% of the stock is currently owned by insiders.

Institutional Trading of Perpetua Resources

A number of institutional investors have recently made changes to their positions in PPTA. Paulson & CO. Inc. lifted its position in shares of Perpetua Resources by 30.6% in the second quarter. Paulson & CO. Inc. now owns 32,347,299 shares of the company’s stock worth $392,696,000 after purchasing an additional 7,575,757 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Perpetua Resources by 3,107.0% in the fourth quarter. JPMorgan Chase & Co. now owns 2,910,833 shares of the company’s stock worth $70,471,000 after purchasing an additional 2,820,067 shares in the last quarter. Encompass Capital Advisors LLC lifted its position in shares of Perpetua Resources by 145.0% in the second quarter. Encompass Capital Advisors LLC now owns 3,608,369 shares of the company’s stock worth $43,806,000 after purchasing an additional 2,135,478 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in shares of Perpetua Resources by 40.4% in the third quarter. Alyeska Investment Group L.P. now owns 4,581,234 shares of the company’s stock worth $92,678,000 after purchasing an additional 1,318,008 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Perpetua Resources by 65.1% in the fourth quarter. Vanguard Group Inc. now owns 3,157,670 shares of the company’s stock worth $76,447,000 after purchasing an additional 1,245,630 shares in the last quarter. Institutional investors own 70.07% of the company’s stock.

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.