Perpetua Resources (NASDAQ:PPTA) Issues Quarterly Earnings Results

Perpetua Resources (NASDAQ:PPTA) released its earnings results on Friday. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.59), FiscalAI reports.

Perpetua Resources Stock Up 2.0%

Shares of NASDAQ:PPTA traded up $0.49 on Friday, reaching $25.24. 677,606 shares of the company’s stock were exchanged, compared to its average volume of 1,256,724. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of -19.12 and a beta of 0.09. Perpetua Resources has a fifty-two week low of $16.28 and a fifty-two week high of $37.37. The business’s 50-day moving average is $21.15 and its two-hundred day moving average is $26.51.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC raised its stake in Perpetua Resources by 4.6% during the second quarter. Tower Research Capital LLC TRC now owns 15,872 shares of the company’s stock worth $193,000 after acquiring an additional 697 shares during the period. Captrust Financial Advisors lifted its holdings in Perpetua Resources by 6.2% in the fourth quarter. Captrust Financial Advisors now owns 20,667 shares of the company’s stock worth $500,000 after acquiring an additional 1,209 shares during the last quarter. Smartleaf Asset Management LLC acquired a new position in Perpetua Resources in the fourth quarter valued at approximately $31,000. UMB Bank n.a. acquired a new position in Perpetua Resources in the fourth quarter valued at approximately $36,000. Finally, Kestra Advisory Services LLC bought a new position in shares of Perpetua Resources during the fourth quarter valued at approximately $40,000. 70.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on PPTA shares. HC Wainwright increased their price target on shares of Perpetua Resources from $41.00 to $43.50 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. B. Riley Financial started coverage on Perpetua Resources in a report on Monday, August 3rd. They issued a “buy” rating and a $30.00 price objective for the company. Zacks Research upgraded Perpetua Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Perpetua Resources in a report on Friday, July 17th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Perpetua Resources has a consensus rating of “Moderate Buy” and an average price target of $35.90.

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.