Perpetua Resources price target raised to $19 from $15 at Roth MKM

Roth MKM raised the firm’s price target on Perpetua Resources (PPTA) to $19 from $15 and keeps a Buy rating on the shares. The firm cites U.S. Forest Service publishing a Final Record of Decision authorizing the company’s mine plan for its Stibnite Gold Project in Idaho while noting that having commenced the NEPA process in 2016, this is the major milestone in the reopening of the mine and central to its investment thesis. Ancillary permits remain, but Roth expects that Perpetua will accelerate preconstruction activities including final engineering, updating economics, and considering finance options to make a positive mine decision, the analyst tells investors in a research note.