Gold prices edge higher on raised Fed rate cut hopes
BOISE, Idaho—In a recent filing with the Securities and Exchange Commission, Robert Dean, a director at Perpetua Resources Corp. (NASDAQ:PPTA), disclosed the purchase of 5,000 common shares. The transaction, completed on February 21, 2025, was valued at approximately $41,600, with shares acquired at a price of $8.32 each. According to InvestingPro data, the stock appears overvalued at current levels, despite a recent 10% decline over the past week.
Following this acquisition, Dean’s total holdings in Perpetua Resources have increased to 10,000 shares. The purchase reflects a direct ownership stake in the company, which specializes in gold and silver ores. The timing is notable, as the stock has delivered an impressive 203% return over the past year, while maintaining a healthy current ratio of 2.31.
This transaction comes as part of Dean’s ongoing investment in Perpetua Resources, a company headquartered in Boise, Idaho, and known for its involvement in energy and transportation sectors. Wall Street analysts maintain a bullish outlook, with price targets ranging from $16 to $25. Get more insights and 12 additional ProTips with InvestingPro.
In other recent news, Perpetua Resources has received a significant boost with the U.S. Forest Service’s approval of its Stibnite Gold Project in Idaho. This approval marks the end of an extensive eight-year review process, paving the way for the company to proceed with its ambitious plans to extract substantial reserves of gold and antimony. The project is expected to produce around 450,000 ounces of gold annually in its initial years and meet up to 35% of the U.S. demand for antimony, a critical mineral. H.C. Wainwright has responded to these developments by raising its price target for Perpetua Resources to $25.00, maintaining a Buy rating on the stock. National Bank also highlighted the project’s potential to become a key domestic source of antimony, maintaining an outperform rating with a C$22 price target.
Perpetua Resources is advancing towards the construction phase, which includes securing necessary permits and financing. In a related development, the company has partnered with U.S. Antimony Corporation to test antimony concentrate, aiming to establish a fully domestic antimony supply chain. This collaboration underscores Perpetua’s commitment to meeting domestic needs and reducing reliance on foreign sources. The project is also expected to create 550 jobs and inject over one billion dollars into Idaho’s economy during its operational phase.
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