Perpetua Resources price target raised to $40 from $30 at B. Riley

B. Riley analyst Nick Giles raised the firm’s price target on Perpetua Resources (PPTA) to $40 from $30 and keeps a Buy rating on the shares. Perpetua Resources is advancing its Stibnite gold-antimony project in Idaho ahead of multiple 2026 catalysts, including pilot plant development, antimony offtake negotiations, and a spring 2026 decision on $2B in EXIM financing, with shares up 29% year-to-date, the analyst tells investors in a research note. With $720M in cash, early construction underway, INL validation of its pilot pathway, and supportive gold and antimony markets, the risk/reward appears attractive, B. Riley adds.