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

Perpetua Resources (NASDAQ:PPTA) released its quarterly earnings data on Monday. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.21), Zacks reports.

Perpetua Resources Trading Up 2.5%

NASDAQ PPTA traded up $0.77 during mid-day trading on Wednesday, hitting $31.85. The company’s stock had a trading volume of 686,896 shares, compared to its average volume of 1,695,383. The company’s 50 day simple moving average is $29.81 and its 200 day simple moving average is $28.16. Perpetua Resources has a twelve month low of $11.22 and a twelve month high of $37.37. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of -24.25 and a beta of 0.02.

Insider Buying and Selling at Perpetua Resources

In related news, insider Jonathan Cherry sold 4,079 shares of Perpetua Resources 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 completion of the sale, the insider owned 44,895 shares of the company’s stock, valued at approximately $1,315,872.45. This trade represents a 8.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mckinsey Margaret Lyon sold 8,699 shares of Perpetua Resources stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $29.53, for a total transaction of $256,881.47. Following the transaction, the insider directly owned 142,329 shares in the company, valued at $4,202,975.37. This represents a 5.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 56,500 shares of company stock valued at $1,581,853. 0.57% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Perpetua Resources

A number of hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted 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 buying an additional 697 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of Perpetua Resources by 6.2% in the 4th quarter. Captrust Financial Advisors now owns 20,667 shares of the company’s stock worth $500,000 after buying an additional 1,209 shares during the last quarter. Smartleaf Asset Management LLC purchased a new position in shares of Perpetua Resources in the 4th quarter worth about $31,000. UMB Bank n.a. purchased a new position in shares of Perpetua Resources in the 4th quarter worth about $36,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of Perpetua Resources in the 4th quarter worth about $40,000. 70.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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