Perpetua Resources (NASDAQ:PPTA) Posts Earnings Results, Misses Estimates By $0.59 EPS

Perpetua Resources (NASDAQ:PPTA) announced its quarterly earnings data on Thursday. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.59), FiscalAI reports. During the same quarter last year, the firm earned $0.08 EPS.

Perpetua Resources Price Performance

Shares of PPTA stock traded up $0.49 during trading hours on Friday, hitting $25.24. 677,606 shares of the company’s stock were exchanged, compared to its average volume of 1,256,724. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of -19.12 and a beta of 0.09. The stock’s 50-day moving average is $21.20 and its 200-day moving average is $26.51. Perpetua Resources has a 52 week low of $16.28 and a 52 week high of $37.37.

Analyst Ratings Changes

PPTA has been the topic of a number of recent analyst reports. B. Riley Financial began coverage on shares of Perpetua Resources in a research report on Monday, August 3rd. They set a “buy” rating and a $30.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Perpetua Resources in a report on Friday, July 17th. Zacks Research raised Perpetua Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Finally, HC Wainwright boosted their price objective on shares of Perpetua Resources from $41.00 to $43.50 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Perpetua Resources has an average rating of “Moderate Buy” and an average target price of $35.90.

Hedge Funds Weigh In On Perpetua Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC acquired a new position in Perpetua Resources in the 4th quarter valued at about $31,000. UMB Bank n.a. bought a new stake in shares of Perpetua Resources during the 4th quarter valued at about $36,000. Kestra Advisory Services LLC bought a new position in shares of Perpetua Resources during the 4th quarter valued at $40,000. Osterweis Capital Management Inc. purchased a new position in Perpetua Resources during the 4th quarter worth $63,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Perpetua Resources in the 4th quarter valued at $66,000. 70.07% of the stock is owned by institutional investors and hedge funds.

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.