H.C. Wainwright reiterates Buy rating on Perpetua Resources stock at $30

Investing.com - H.C. Wainwright has reiterated its Buy rating and $30.00 price target on Perpetua Resources (NASDAQ:PPTA), representing a 59% upside from the current price of $18.86. The bullish stance comes as the stock trades near its 52-week high of $19.75, following the company’s receipt of a conditional Notice to Proceed for its Stibnite Gold Project. According to InvestingPro, analysts maintain a Strong Buy consensus on the stock.

The U.S. Forest Service (USFS) issued the conditional Notice to Proceed on September 19, 2025, confirming that the project has satisfied all necessary requirements outlined in the January 2025 Record of Decision. The news has contributed to the stock’s impressive 117.8% return over the past year.

The notice allows Perpetua Resources to begin construction once joint financial assurance bonding is provided from the USFS, Idaho Department of Lands, and U.S. Army Corps of Engineers.

State and federal agencies have recently finalized a financial package that requires bonding for the construction phase of the project.

The USFS has informed Perpetua that it plans to approve and sign the necessary documents once the financial assurance bonds are in place, with company management anticipating the required financial assurance to be completed soon.

In other recent news, Perpetua Resources has received a conditional Notice to Proceed from the U.S. Forest Service for its Stibnite Gold Project. This approval allows construction to commence once the company secures the necessary financial assurance bonding. The project has met all requirements outlined in the January 2025 Record of Decision, and early construction is anticipated to begin soon. Additionally, Perpetua Resources has obtained a preliminary, non-binding financing term sheet from the Export-Import Bank of the United States (EXIM) for $2 billion in potential debt financing for the Stibnite Gold Project. The company is working with EXIM to advance through the loan application process, with final consideration expected by spring 2026. In another development, H.C. Wainwright has raised its price target for Perpetua Resources to $30, maintaining a Buy rating on the stock. This adjustment is based on an improved price outlook and confidence in the project’s progress. These developments highlight significant steps forward for Perpetua Resources in advancing the Stibnite Gold Project.

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