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

Perpetua Resources (NASDAQ:PPTA) had its price target increased by equities researchers at HC Wainwright from $13.25 to $22.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 141.76% from the company’s current price.

A number of other analysts also recently issued reports on PPTA. National Bank Financial assumed coverage on shares of Perpetua Resources in a report on Friday, September 6th. They set an “outperform” rating on the stock. Roth Mkm upped their price objective on shares of Perpetua Resources from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd.

Perpetua Resources Trading Up 2.7 %

Shares of NASDAQ:PPTA opened at $9.10 on Friday. The company’s 50 day moving average is $9.37 and its 200 day moving average is $7.49. The company has a market cap of $605.79 million, a PE ratio of -41.36 and a beta of 0.27. Perpetua Resources has a twelve month low of $2.69 and a twelve month high of $10.72.

Insider Buying and Selling

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

Institutional Investors Weigh In On Perpetua Resources

Hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. raised 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 valued at $2,419,000 after buying an additional 8,985 shares during the period. M&G Plc purchased a new stake in Perpetua Resources in the 1st quarter valued at about $805,000. Herr Investment Group LLC acquired a new position in Perpetua Resources in the first quarter valued at about $5,701,000. Nokomis Capital L.L.C. purchased a new position in Perpetua Resources during the first quarter worth about $406,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of Perpetua Resources during the first quarter valued at about $51,000. 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.