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

Perpetua Resources (NASDAQ:PPTA) had its price target lifted by stock analysts at HC Wainwright from $10.00 to $10.50 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 153.62% from the company’s current price.

Perpetua Resources Price Performance

PPTA opened at $4.14 on Thursday. Perpetua Resources has a 1 year low of $2.63 and a 1 year high of $5.49. The stock’s 50 day simple moving average is $3.28 and its 200 day simple moving average is $3.35. The firm has a market cap of $265.46 million, a price-to-earnings ratio of -14.28 and a beta of 0.30.

Insider Activity at Perpetua Resources

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company purchased a new position in shares of Perpetua Resources during the second quarter valued at about $38,000. California State Teachers Retirement System purchased a new position in shares of Perpetua Resources during the 2nd quarter worth approximately $46,000. Cubist Systematic Strategies LLC bought a new position in shares of Perpetua Resources in the 1st quarter worth approximately $49,000. Wells Fargo & Company MN purchased a new position in shares of Perpetua Resources in the 2nd quarter valued at approximately $57,000. Finally, Balyasny Asset Management L.P. purchased a new stake in Perpetua Resources in the first quarter worth $58,000. 70.07% of the stock is currently owned by institutional investors.

About Perpetua Resources

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.