Perpetua Resources (NASDAQ:PPTA) Announces Quarterly Earnings Results

Perpetua Resources (NASDAQ:PPTA) issued its quarterly earnings data on Tuesday. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.60), Zacks reports.

Perpetua Resources Stock Up 0.1%

Shares of PPTA traded up $0.03 during mid-day trading on Thursday, reaching $29.55. The company had a trading volume of 595,604 shares, compared to its average volume of 1,881,097. The stock has a market capitalization of $3.69 billion, a P/E ratio of -28.23 and a beta of 0.15. Perpetua Resources has a 52-week low of $8.84 and a 52-week high of $37.37. The stock has a 50 day moving average of $30.26 and a two-hundred day moving average of $26.64.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PPTA. HC Wainwright lifted their target price on shares of Perpetua Resources from $30.00 to $41.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Perpetua Resources in a research note on Thursday, January 22nd. Finally, B. Riley Financial lifted their price objective on shares of Perpetua Resources from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Insider Buying and Selling

In other Perpetua Resources news, Director Alexander Mcleod Sternhell sold 10,148 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $26.50, for a total value of $268,922.00. Following the completion of the transaction, the director directly owned 19,352 shares of the company’s stock, valued at approximately $512,828. The trade was a 34.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey L. Malmen sold 10,181 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $26.34, for a total transaction of $268,167.54. Following the sale, the director directly owned 19,319 shares in the company, valued at $508,862.46. The trade was a 34.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 110,249 shares of company stock valued at $2,979,254 in the last ninety days. Insiders own 1.50% of the company’s stock.

Institutional Trading of Perpetua Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. increased its holdings in Perpetua Resources by 40.4% in the third quarter. Alyeska Investment Group L.P. now owns 4,581,234 shares of the company’s stock valued at $92,678,000 after buying an additional 1,318,008 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Perpetua Resources by 3.0% during the 4th quarter. Van ECK Associates Corp now owns 2,925,672 shares of the company’s stock worth $70,831,000 after acquiring an additional 85,126 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Perpetua Resources by 3,107.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,910,833 shares of the company’s stock valued at $70,471,000 after acquiring an additional 2,820,067 shares during the period. Vanguard Group Inc. grew its position in shares of Perpetua Resources by 165.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,912,040 shares of the company’s stock valued at $38,685,000 after acquiring an additional 1,192,744 shares during the period. Finally, State Street Corp increased its stake in shares of Perpetua Resources by 12.1% in the 4th quarter. State Street Corp now owns 1,474,406 shares of the company’s stock valued at $35,695,000 after purchasing an additional 159,633 shares in the last quarter. Institutional investors and hedge funds own 70.07% of the company’s stock.

About Perpetua Resources

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.