Perpetua Resources (NASDAQ:PPTA) Stock Price Expected to Rise, HC Wainwright Analyst Says

Perpetua Resources (NASDAQ:PPTA - Get Free Report) had its price objective increased by stock analysts at HC Wainwright from $25.00 to $28.00 in a report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's target price would indicate a potential upside of 148.89% from the stock's previous close.

Separately, Roth Mkm upped their target price on Perpetua Resources from $15.00 to $19.00 and gave the company a "buy" rating in a report on Tuesday, January 7th.

Perpetua Resources Stock Up 0.4 %

NASDAQ:PPTA traded up $0.05 during trading hours on Friday, reaching $11.25. 387,644 shares of the stock were exchanged, compared to its average volume of 511,931. Perpetua Resources has a 52 week low of $4.02 and a 52 week high of $13.23. The stock has a market capitalization of $791.34 million, a P/E ratio of -51.14 and a beta of 0.27. The firm has a 50 day simple moving average of $10.55 and a 200-day simple moving average of $10.28.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last released its quarterly earnings data on Wednesday, March 19th. The company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.09) by $0.03. As a group, analysts expect that Perpetua Resources will post -0.21 earnings per share for the current year.

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Insider Buying and Selling

In related news, insider Mckinsey Margaret Lyon sold 22,710 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $8.82, for a total value of $200,302.20. Following the sale, the insider now directly owns 89,154 shares in the company, valued at $786,338.28. This trade represents a 20.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alan Douglas Haslam sold 10,400 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $9.24, for a total value of $96,096.00. Following the transaction, the insider now owns 65,763 shares of the company's stock, valued at $607,650.12. This trade represents a 13.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have bought a total of 20,230 shares of company stock valued at $166,582 in the last quarter. Company insiders own 1.90% of the company's stock.

Institutional Trading of Perpetua Resources

A number of institutional investors have recently made changes to their positions in the stock. Amundi acquired a new position in shares of Perpetua Resources during the fourth quarter valued at approximately $7,788,000. Millennium Management LLC lifted its holdings in shares of Perpetua Resources by 226.7% in the fourth quarter. Millennium Management LLC now owns 370,536 shares of the company's stock valued at $3,954,000 after buying an additional 257,130 shares during the period. Cohen & Steers Inc. bought a new position in Perpetua Resources during the fourth quarter valued at about $2,729,000. Yaupon Capital Management LP acquired a new position in Perpetua Resources during the fourth quarter worth about $2,668,000. Finally, Polar Asset Management Partners Inc. bought a new stake in Perpetua Resources in the fourth quarter worth about $1,937,000. 70.07% of the stock is 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.