Perpetua Resources (NASDAQ:PPTA) Announces Earnings Results

Perpetua Resources (NASDAQ:PPTA) released its quarterly earnings data on Friday. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.23), Zacks reports.

Perpetua Resources Stock Performance

Shares of NASDAQ PPTA traded down $0.41 during midday trading on Friday, hitting $21.58. The company’s stock had a trading volume of 2,284,040 shares, compared to its average volume of 3,300,964. Perpetua Resources has a 1-year low of $7.81 and a 1-year high of $31.65. The firm’s fifty day moving average price is $21.95 and its 200-day moving average price is $17.56. The firm has a market cap of $2.63 billion, a P/E ratio of -69.61 and a beta of 0.02.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PPTA. BMO Capital Markets set a $44.00 price target on Perpetua Resources in a report on Tuesday, October 28th. Roth Capital set a $32.00 target price on Perpetua Resources and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Wall Street Zen lowered Perpetua Resources from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada started coverage on shares of Perpetua Resources in a research note on Friday, July 18th. They issued an “outperform” rating and a $23.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $29.00.

Insider Buying and Selling

In related news, insider Jonathan Cherry sold 14,911 shares of Perpetua Resources stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $23.72, for a total transaction of $353,688.92. Following the sale, the insider directly owned 36,249 shares in the company, valued at $859,826.28. The trade was a 29.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Stephen Wright sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $18.31, for a total transaction of $183,100.00. Following the sale, the insider owned 14,195 shares in the company, valued at $259,910.45. This trade represents a 41.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PPTA. Creative Planning increased its stake in shares of Perpetua Resources by 33.0% in the third quarter. Creative Planning now owns 14,678 shares of the company’s stock worth $297,000 after acquiring an additional 3,643 shares during the last quarter. Raymond James Financial Inc. raised its stake in shares of Perpetua Resources by 765.4% during the 3rd quarter. Raymond James Financial Inc. now owns 43,901 shares of the company’s stock worth $888,000 after purchasing an additional 38,828 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Perpetua Resources during the 3rd quarter worth about $571,000. Amundi lifted its holdings in shares of Perpetua Resources by 2.1% during the 3rd quarter. Amundi now owns 779,146 shares of the company’s stock valued at $15,762,000 after buying an additional 16,277 shares during the last quarter. Finally, Financial Sense Advisors Inc. bought a new stake in shares of Perpetua Resources in the 3rd quarter valued at approximately $202,000. Hedge funds and other institutional investors own 70.07% of the company’s stock.

Perpetua Resources Company Profile

Perpetua Resources Corp. engages in the exploration and development of mineral properties in the United States. The company primarily explores for gold, silver, and antimony deposits. Its principal asset is the 100% owned Stibnite Gold project, which includes 1,672 unpatented lode claims, mill sites, and patented land holdings covering an area of approximately 11,548 hectares located in Valley County, Idaho.