HC Wainwright Boosts Perpetua Resources (NASDAQ:PPTA) Price Target to $22.00

Perpetua Resources (NASDAQ:PPTA) had its price target boosted by equities research analysts at HC Wainwright from $13.25 to $22.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 141.76% from the company’s previous close.

Several other research firms have also commented on PPTA. National Bank Financial began coverage on shares of Perpetua Resources in a research report on Friday, September 6th. They set an “outperform” rating for the company. Roth Mkm boosted their target price on Perpetua Resources from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd.

Perpetua Resources Stock Up 2.7 %

PPTA opened at $9.10 on Friday. The company has a market capitalization of $605.79 million, a PE ratio of -41.36 and a beta of 0.27. Perpetua Resources has a 52 week low of $2.69 and a 52 week high of $10.72. The firm has a 50-day simple moving average of $9.37 and a two-hundred day simple moving average of $7.49.

Insider Transactions at Perpetua Resources

In other Perpetua Resources news, insider Alan Douglas Haslam sold 40,000 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 65,571 shares of the company’s stock, valued at $660,299.97. The trade was a 37.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Herr Investment Group LLC lifted its position in shares of Perpetua Resources by 5.8% during the second quarter. Herr Investment Group LLC now owns 1,450,498 shares of the company’s stock valued at $7,543,000 after buying an additional 80,000 shares during the last quarter. Fourth Sail Capital LP acquired a new position in shares of Perpetua Resources during the third quarter worth $10,405,000. Russell Investments Group Ltd. lifted its holdings 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 purchasing an additional 8,985 shares during the last quarter. M&G Plc purchased a new position in Perpetua Resources during the 1st quarter worth $805,000. Finally, Bank of New York Mellon Corp increased its position in Perpetua Resources by 20.0% during the 2nd 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 hedge funds and other institutional investors.

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.