HC Wainwright Raises Perpetua Resources (NASDAQ:PPTA) Price Target to $10.50

Perpetua Resources (NASDAQ:PPTA) had its price objective boosted by investment analysts at HC Wainwright from $10.00 to $10.50 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 153.62% from the company’s current price.

Perpetua Resources Price Performance

PPTA stock opened at $4.14 on Thursday. The firm has a market cap of $265.46 million, a price-to-earnings ratio of -14.28 and a beta of 0.30. Perpetua Resources has a 1-year low of $2.63 and a 1-year high of $5.49. The firm has a fifty day moving average price of $3.28 and a two-hundred day moving average price of $3.35.

Insider Activity

In other Perpetua Resources news, Director Chris J. Robison acquired 10,000 shares of Perpetua Resources stock in a transaction dated Thursday, January 18th. The stock was acquired at an average cost of $2.95 per share, for a total transaction of $29,500.00. Following the completion of the transaction, the director now owns 60,000 shares in the company, valued at approximately $177,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.94% of the company’s stock.

Hedge Funds Weigh In On Perpetua Resources

Several hedge funds have recently modified their holdings of PPTA. Bank of New York Mellon Corp raised its position in Perpetua Resources by 8.1% in the first quarter. Bank of New York Mellon Corp now owns 66,040 shares of the company’s stock worth $271,000 after acquiring an additional 4,955 shares in the last quarter. BlackRock Inc. raised its position in shares of Perpetua Resources by 2.0% during the first quarter. BlackRock Inc. now owns 1,360,829 shares of the company’s stock worth $5,579,000 after purchasing an additional 27,293 shares during the period. Dimensional Fund Advisors LP acquired a new position in shares of Perpetua Resources in the 1st quarter valued at $66,000. Vanguard Group Inc. lifted its stake in Perpetua Resources by 2.9% during the first quarter. Vanguard Group Inc. now owns 164,766 shares of the company’s stock valued at $676,000 after buying an additional 4,593 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Perpetua Resources by 5.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 74,218 shares of the company’s stock worth $305,000 after purchasing an additional 3,877 shares during the period. 70.07% of the stock is currently owned by institutional investors and hedge funds.

Perpetua Resources Company Profile

Perpetua Resources Corp. engages in the mineral exploration and development activities in the United States. The company primarily explores for gold, silver, and antimony. Its principal asset is the 100% owned Stibnite gold project located in Valley County, Idaho. The company was formerly known as Midas Gold Corp.