H.C. Wainwright reiterates Perpetua Resources stock rating at buy
H.C. Wainwright maintains a Buy rating and sets a $43.50 price target for Perpetua Resources (NASDAQ:PPTA) stock. The company's shares are currently priced at $24.39, positioning it as an undervalued investment according to InvestingPro data. Notably, Perpetua Resources reported a net loss of $97.5 million, or $0.78 per share, in the latest quarter, down from a $6.0 million loss, or $0.08 per share, in the previous year's second quarter.
Analysts do not expect profitability this year, with 10 additional recommendations available for subscribers. The company allocated $103.9 million to exploration and pre-development activities, including $70.1 million on engineering and $22.0 million on field operations and drilling support. Perpetua Resources secured a $2.9 billion senior secured loan for its Stibnite Gold Project, with financing covering the project's estimated capital costs through the US Export-Import Bank's Make More in America Initiative.
Despite legal challenges, including a denial of a preliminary injunction, construction on the Stibnite Gold Project has commenced in Idaho.
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