B. Riley raised the firm’s price target on Perpetua Resources (PPTA) to $17 from $16 and keeps a Buy rating on the shares. The firm updated estimates following the close of the bought deal financing and private placement. The offering enables Perpetua to satisfy the equity requirement for the up to $2B EXIM debt financing, for which the company has submitted its formal application, the analyst tells investors in a research note. Riley says the catalysts for the equity are now the receipt of a project letter from EXIM and any potential financial guarantee and royalty deal that can be struck in the summer.
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