HC Wainwright Forecasts Strong Price Appreciation for Perpetua Resources (NASDAQ:PPTA) Stock

Perpetua Resources (NASDAQ:PPTA) had its price target boosted by equities researchers at HC Wainwright from $22.00 to $25.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 99.84% from the stock’s current price.

Separately, Roth Mkm raised their price objective on shares of Perpetua Resources from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday.

Perpetua Resources Price Performance

NASDAQ PPTA opened at $12.51 on Tuesday. The firm has a market cap of $877.86 million, a P/E ratio of -56.86 and a beta of 0.19. The stock’s 50-day moving average is $10.72 and its 200-day moving average is $8.85. Perpetua Resources has a one year low of $2.69 and a one year high of $13.23.

Insider Activity at Perpetua Resources

In related news, insider Alan Douglas Haslam sold 40,000 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $10.07, for a total value of $402,800.00. Following the completion of the transaction, the insider now owns 65,571 shares of the company’s stock, valued at approximately $660,299.97. This trade represents a 37.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Perpetua Resources

A number of large investors have recently modified their holdings of the business. Herr Investment Group LLC increased its position in shares of Perpetua Resources by 5.8% in the second quarter. Herr Investment Group LLC now owns 1,450,498 shares of the company’s stock valued at $7,543,000 after acquiring an additional 80,000 shares during the last quarter. Fourth Sail Capital LP acquired a new position in shares of Perpetua Resources during the 3rd quarter worth approximately $10,405,000. State Street Corp raised its stake 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. Geode Capital Management LLC boosted its holdings in shares of Perpetua Resources by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 484,829 shares of the company’s stock valued at $4,533,000 after buying an additional 2,252 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Perpetua Resources by 20.0% in the second quarter. Bank of New York Mellon Corp now owns 107,551 shares of the company’s stock valued at $559,000 after buying an additional 17,954 shares in the last quarter. 70.07% of the stock is currently owned by institutional investors and hedge funds.

Perpetua Resources Company Profile

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.