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

Perpetua Resources (NASDAQ:PPTA) issued 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 Stock Up 5.3%

PPTA stock opened at $31.54 on Tuesday. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of -30.04 and a beta of 0.02. Perpetua Resources has a 12-month low of $11.22 and a 12-month high of $37.37. The company’s fifty day simple moving average is $29.93 and its 200 day simple moving average is $28.11.

Insider Buying and Selling at Perpetua Resources

In related news, insider Jonathan Cherry sold 4,079 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $29.31, for a total value of $119,555.49. Following the transaction, the insider owned 44,895 shares in the company, valued at $1,315,872.45. The trade was a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mckinsey Margaret Lyon sold 43,722 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $27.57, for a total transaction of $1,205,415.54. Following the completion of the transaction, the insider owned 132,110 shares in the company, 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 90 days, insiders sold 56,500 shares of company stock worth $1,581,853. 0.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On Perpetua Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Jain Global LLC acquired a new stake in shares of Perpetua Resources in the 3rd quarter worth about $260,000. Investment Management Corp of Ontario acquired a new stake in shares of Perpetua Resources in the 4th quarter worth about $227,000. Captrust Financial Advisors acquired a new stake in shares of Perpetua Resources in the 2nd quarter worth about $201,000. Tower Research Capital LLC TRC raised its holdings in shares of Perpetua Resources by 4.6% in the 2nd 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 last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Perpetua Resources by 12.6% in the 1st quarter. AQR Capital Management LLC now owns 15,909 shares of the company’s stock worth $170,000 after acquiring an additional 1,780 shares during the last quarter. Institutional investors and hedge funds own 70.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PPTA. Zacks Research lowered shares of Perpetua Resources from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a report on Tuesday, April 21st. HC Wainwright reiterated a “buy” rating and set a $41.00 price target on shares of Perpetua Resources in a report on Wednesday, April 8th. Finally, B. Riley Financial lifted their price target on shares of Perpetua Resources from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, Perpetua Resources has an average rating of “Moderate Buy” and a consensus 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.