Perpetua Resources (NASDAQ:PPTA) Releases Quarterly Earnings Results, Misses Expectations By $0.60 EPS

Perpetua Resources (NASDAQ:PPTA) announced its quarterly earnings results on Tuesday. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.60), Zacks reports.

Perpetua Resources Price Performance

Perpetua Resources stock traded up $0.41 during midday trading on Thursday, hitting $29.93. The company’s stock had a trading volume of 382,385 shares, compared to its average volume of 1,878,894. The company has a market cap of $3.74 billion, a price-to-earnings ratio of -28.46 and a beta of 0.15. Perpetua Resources has a 1-year low of $8.84 and a 1-year high of $37.37. The company has a 50-day moving average price of $30.26 and a two-hundred day moving average price of $26.64.

Insider Buying and Selling at Perpetua Resources

In other Perpetua Resources news, Director Alexander Mcleod Sternhell sold 10,148 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $26.50, for a total transaction of $268,922.00. Following the transaction, the director owned 19,352 shares in the company, valued at $512,828. This represents a 34.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mckinsey Margaret Lyon sold 43,722 shares of Perpetua Resources stock in a transaction that occurred 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 sale, the insider 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 110,249 shares of company stock worth $2,979,254. 1.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Invesco Ltd. boosted its stake in shares of Perpetua Resources by 3.6% in the 4th quarter. Invesco Ltd. now owns 49,849 shares of the company’s stock valued at $1,207,000 after purchasing an additional 1,755 shares in the last quarter. NewEdge Advisors LLC increased its position in Perpetua Resources by 59.3% during the 4th quarter. NewEdge Advisors LLC now owns 84,280 shares of the company’s stock worth $2,040,000 after purchasing an additional 31,375 shares in the last quarter. Yaupon Capital Management LP bought a new position in Perpetua Resources in the 4th quarter valued at approximately $4,612,000. Wellington Management Group LLP acquired a new stake in Perpetua Resources in the fourth quarter valued at approximately $9,333,000. Finally, Toronto Dominion Bank acquired a new stake in Perpetua Resources in the fourth quarter valued at approximately $464,000. Institutional investors own 70.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Perpetua Resources in a research report on Thursday, January 22nd. B. Riley Financial increased their target price on Perpetua Resources from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Finally, HC Wainwright lifted their price target on Perpetua Resources from $30.00 to $41.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.