Perpetua Resources (NASDAQ:PPTA) Releases Earnings Results, Misses Expectations By $0.59 EPS

Perpetua Resources (NASDAQ:PPTA) issued its quarterly earnings data on Thursday. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.59), FiscalAI reports. During the same period in the previous year, the firm earned $0.08 EPS.

Perpetua Resources Trading Up 2.0%

PPTA traded up $0.49 during midday trading on Friday, hitting $25.24. 677,606 shares of the company were exchanged, compared to its average volume of 1,256,724. The company’s 50 day simple moving average is $21.20 and its 200 day simple moving average is $26.51. 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 1-year low of $16.28 and a 1-year high of $37.37.

Analysts Set New Price Targets

PPTA has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a research report on Friday, July 17th. B. Riley Financial initiated coverage on shares of Perpetua Resources in a report on Monday, August 3rd. They set a “buy” rating and a $30.00 price objective on the stock. Zacks Research raised shares of Perpetua Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Finally, HC Wainwright raised their price target on shares of Perpetua Resources from $41.00 to $43.50 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $35.90.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC acquired a new position in shares of Perpetua Resources in the 4th quarter valued at $31,000. UMB Bank n.a. purchased a new position in shares of Perpetua Resources in the 4th quarter valued at about $36,000. Kestra Advisory Services LLC acquired a new position in shares of Perpetua Resources during the 4th quarter worth approximately $40,000. Osterweis Capital Management Inc. purchased a new position in shares of Perpetua Resources during the 4th quarter valued at approximately $63,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Perpetua Resources in the 4th quarter worth $66,000. 70.07% of the stock is owned by institutional investors and hedge funds.

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.