Perpetua Resources (NASDAQ:PPTA) Receives New Price Target of $8.50 at HC Wainwright

Perpetua Resources (NASDAQ: PPTA – Get Appraisal) saw its price target reduced by HC Wainwright from $12.00 to $8.50 in a note issued to investors on Thursday, reports The Fly. HC Wainwright’s price target would indicate a potential upside of 209.09% from the stock’s previous close.

Stock of perpetual resources up 2.2%

Perpetua Resources shares opened Thursday at $2.75. Perpetua Resources has a 52-week low of $2.59 and a 52-week high of $5.94. The company’s 50-day moving average price is $3.14 and its two-hundred-day moving average price is $3.59. The stock has a market capitalization of $173.22 million, a P/E ratio of -4.17 and a beta of 0.46.

Perpetua Resources (NASDAQ:PPTA – Get Rating) last released its quarterly results on Friday, May 13. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. On average, equity analysts expect Perpetua Resources to post -0.49 EPS for the current year.

Insider Activity at Perpetua Resources

In other Perpetua Resources news, Director Chris J. Robison acquired 10,000 shares of Perpetua Resources in a transaction that took place on Monday May 16th. The shares were acquired at an average cost of $3.08 per share, for a total transaction of $30,800.00. Following the purchase, the director now owns 40,000 shares of the company, valued at $123,200. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC’s website. Separately, director Chris J. Robison purchased 10,000 shares of the company in a trade on Monday, May 16. The shares were purchased at an average cost of $3.08 per share, with a total value of $30,800.00. Following the acquisition, the director now directly owns 40,000 shares of the company, valued at $123,200. The purchase was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, CFO Jessica Marie Largent purchased 12,500 shares of the company in a trade on Monday, July 11. The shares were purchased at an average cost of $2.80 per share, with a total value of $35,000.00. Following the completion of the acquisition, the CFO now owns 30,333 shares of the company, valued at $84,932.40. Disclosure of this purchase can be found here. In the past ninety days, insiders have purchased 25,500 shares of the company worth $74,140. Company insiders own 0.94% of the company’s shares.

Perpetua Resource Institutional Trade

Hedge funds have recently changed their positions in the stock. Nisa Investment Advisors LLC bought a new stake in shares of Perpetua Resources during Q4 for $37,000. Advisor Group Holdings Inc. increased its holdings of Perpetua Resources shares by 458.4% during the 4th quarter. Advisor Group Holdings Inc. now owns 10,598 shares of the company worth $50,000 after acquiring 8,700 additional shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new equity stake in Perpetua Resources during Q1 for $58,000. The Florida Retirement System State Board of Directors purchased a new stake in shares of Perpetua Resources during Q4 for $66,000. Finally, Dimensional Fund Advisors LP purchased a new equity stake in Perpetua Resources during Q1 for $66,000. 64.02% of the shares are held by institutional investors.

About Perpetua Resources

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Perpetua Resources Corp. conducts mineral exploration activities in the United States. The company mainly explores gold, silver and antimony. Its principal asset is the 100% owned Stibnite gold project located in Valley County, Idaho. The company was previously known as Midas Gold Corp. and changed its name to Perpetua Resources Corp.

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