Perpetua Resources (NASDAQ:PPTA) Announces Quarterly Earnings Results

Perpetua Resources (NASDAQ:PPTA) announced its quarterly earnings results on Friday. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.23), Zacks reports.

Perpetua Resources Trading Down 1.9%

PPTA stock traded down $0.41 during trading hours on Friday, hitting $21.58. 2,284,040 shares of the stock traded hands, compared to its average volume of 3,300,964. The stock has a 50-day simple moving average of $21.95 and a 200 day simple moving average of $17.56. The company has a market cap of $2.63 billion, a P/E ratio of -69.61 and a beta of 0.02. Perpetua Resources has a one year low of $7.81 and a one year high of $31.65.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Zacks Research raised Perpetua Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Wall Street Zen cut Perpetua Resources from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. B. Riley reissued a “buy” rating on shares of Perpetua Resources in a report on Thursday, October 30th. Roth Capital set a $32.00 price objective on shares of Perpetua Resources and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Perpetua Resources in a research report on Tuesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $29.00.

Insider Transactions at Perpetua Resources

In other news, insider Jonathan Cherry sold 14,911 shares of the firm’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $23.72, for a total transaction of $353,688.92. Following the completion of the transaction, the insider owned 36,249 shares in the company, valued at approximately $859,826.28. This trade represents a 29.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael Stephen Wright sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $18.31, for a total transaction of $183,100.00. Following the completion of the sale, the insider owned 14,195 shares in the company, valued at $259,910.45. The trade was a 41.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Perpetua Resources

Several hedge funds have recently made changes to their positions in PPTA. AQR Capital Management LLC boosted its stake in Perpetua Resources by 12.6% during the 1st quarter. AQR Capital Management LLC now owns 15,909 shares of the company’s stock valued at $170,000 after purchasing an additional 1,780 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Perpetua Resources by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,958 shares of the company’s stock worth $672,000 after buying an additional 2,680 shares during the last quarter. Millennium Management LLC boosted its position in shares of Perpetua Resources by 219.0% in the first quarter. Millennium Management LLC now owns 1,181,899 shares of the company’s stock valued at $12,634,000 after acquiring an additional 811,363 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Perpetua Resources by 1.7% in the first quarter. Goldman Sachs Group Inc. now owns 108,921 shares of the company’s stock worth $1,164,000 after acquiring an additional 1,835 shares during the last quarter. Finally, Creative Planning acquired a new stake in shares of Perpetua Resources in the second quarter worth $134,000. Hedge funds and other institutional investors own 70.07% of the company’s stock.

Perpetua Resources Company Profile

Perpetua Resources Corp. engages in the exploration and development of mineral properties in the United States. The company primarily explores for gold, silver, and antimony deposits. Its principal asset is the 100% owned Stibnite Gold project, which includes 1,672 unpatented lode claims, mill sites, and patented land holdings covering an area of approximately 11,548 hectares located in Valley County, Idaho.