Roth Capital raised the firm’s price target on Perpetua Resources (PPTA) to $21 from $9 and keeps a Buy rating on the shares. The firm cites the company having received its conditional Notice to Proceed from the U.S. Forest Service for the Stibnite Gold Project, noting Perpetua hould soon complete a royalty or stream arrangement sufficient to post financial assurance bonding, the analyst tells investors in a research note. Having completed over six years of permitting, the company’s Stibnite Gold Project has benefited from rising gold and antimony prices and is recognized by state and federal governments as important for creating employment opportunities, restoring fish habitat, and national defense, the firm added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PPTA:
- Perpetua Resources Receives Notice to Proceed for Stibnite
- Perpetua Resources Advances Stibnite Gold Project to Development Phase
- Perpetua Stibnite Gold Project gets notice to proceed from Forest Services
- Perpetua Resources price target raised to $23 from $18 at B. Riley
- Perpetua Resources Secures $2 Billion Financing Term Sheet