Perpetua Resources (NASDAQ:PPTA) Releases Earnings Results, Misses Estimates By $0.21 EPS

Perpetua Resources (NASDAQ:PPTA) posted its quarterly earnings results on Monday. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.21), Zacks reports.

Perpetua Resources Trading Up 4.7%

PPTA traded up $1.41 on Monday, reaching $31.36. The stock had a trading volume of 785,005 shares, compared to its average volume of 1,703,849. Perpetua Resources has a fifty-two week low of $11.22 and a fifty-two week high of $37.37. The firm has a 50-day moving average of $30.07 and a 200-day moving average of $28.03. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of -29.80 and a beta of 0.02.

Insider Transactions at Perpetua Resources

In other Perpetua Resources news, insider Jonathan Cherry sold 4,079 shares of the company’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $29.31, for a total value of $119,555.49. Following the completion of the transaction, the insider owned 44,895 shares of the company’s stock, valued at $1,315,872.45. This represents a 8.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mckinsey Margaret Lyon sold 43,722 shares of the company’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $27.57, for a total value of $1,205,415.54. Following the completion of the transaction, the insider directly owned 132,110 shares of the company’s stock, valued at approximately $3,642,272.70. The trade was a 24.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 56,500 shares of company stock valued at $1,581,853. Insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Perpetua Resources

Institutional investors and hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC acquired a new stake in shares of Perpetua Resources in the fourth quarter valued at about $31,000. UMB Bank n.a. acquired a new stake in shares of Perpetua Resources in the fourth quarter valued at about $36,000. Kestra Advisory Services LLC acquired a new stake in shares of Perpetua Resources in the fourth quarter valued at about $40,000. Osterweis Capital Management Inc. acquired a new stake in shares of Perpetua Resources in the fourth quarter valued at about $63,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Perpetua Resources in the fourth quarter valued at about $66,000. Institutional investors and hedge funds own 70.07% of the company’s stock.

Analyst Ratings Changes

PPTA has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a report on Tuesday, April 21st. Zacks Research cut Perpetua Resources from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 8th. B. Riley Financial boosted their price target on Perpetua Resources from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Finally, HC Wainwright reissued a “buy” rating and set a $41.00 price target on shares of Perpetua Resources in a report on Wednesday, April 8th. Six analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $35.00.

Perpetua Resources Company Profile

Perpetua Resources Inc (NASDAQ: PPTA), formerly known as eCobalt Solutions Inc, is a mineral exploration and development company focused on critical metals that support the global clean-energy transition. The company’s primary objective is to advance its flagship Idaho Cobalt Project, a permitted underground mine located near Stibnite, Idaho. This project is designed to produce cobalt, copper, gold and silver, with an emphasis on providing responsibly sourced materials to North American battery and technology markets.

In addition to its Idaho Cobalt Project, Perpetua Resources holds exploration licenses and mineral tenures across the United States and Canada.