Perpetua Resources’ (PPTA) Buy Rating Reiterated at B. Riley

B. Riley reaffirmed their buy rating on shares of Perpetua Resources (NASDAQ:PPTA) in a research report report published on Wednesday, MarketBeat Ratings reports. They currently have a $17.00 price target on the stock, up from their prior price target of $16.00.

A number of other equities analysts also recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $27.50 target price on shares of Perpetua Resources in a research note on Tuesday. National Bank Financial raised Perpetua Resources to a “strong-buy” rating in a research report on Friday, March 21st. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Perpetua Resources in a research report on Wednesday, April 2nd. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $21.17.

Perpetua Resources Stock Performance

PPTA stock opened at $12.99 on Wednesday. The business has a 50-day simple moving average of $14.10 and a two-hundred day simple moving average of $12.01. The company has a market capitalization of $929.30 million, a P/E ratio of -44.79 and a beta of 0.02. Perpetua Resources has a 52-week low of $5.01 and a 52-week high of $17.96.

Perpetua Resources (NASDAQ:PPTA) last released its quarterly earnings results on Friday, May 9th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.07). As a group, sell-side analysts forecast that Perpetua Resources will post -0.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mckinsey Margaret Lyon sold 20,000 shares of the firm’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $11.00, for a total value of $220,000.00. Following the completion of the transaction, the insider now directly owns 89,154 shares of the company’s stock, valued at $980,694. This trade represents a 18.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Paulson & Co. Inc. bought 7,575,757 shares of Perpetua Resources stock in a transaction on Monday, June 16th. The shares were bought at an average cost of $13.20 per share, with a total value of $99,999,992.40. Following the acquisition, the insider now directly owns 32,347,299 shares in the company, valued at approximately $426,984,346.80. This represents a 30.58% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. ProShare Advisors LLC purchased a new position in shares of Perpetua Resources during the 4th quarter valued at about $116,000. BNP Paribas Financial Markets bought a new stake in shares of Perpetua Resources during the 4th quarter valued at about $55,000. Raymond James Financial Inc. bought a new stake in Perpetua Resources during the 4th quarter valued at approximately $280,000. The Manufacturers Life Insurance Company grew its stake in Perpetua Resources by 387.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 67,483 shares of the company’s stock worth $720,000 after purchasing an additional 53,634 shares during the period. Finally, Deutsche Bank AG grew its position in shares of Perpetua Resources by 64.0% in the 4th quarter. Deutsche Bank AG now owns 30,891 shares of the company’s stock worth $330,000 after buying an additional 12,060 shares during the period. 70.07% of the stock is currently owned by institutional investors.

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.