Perpetua Resources (NASDAQ:PPTA) Announces Earnings Results

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

Perpetua Resources Stock Performance

Shares of PPTA traded up $0.49 during mid-day trading on Thursday, reaching $30.01. The company had a trading volume of 361,687 shares, compared to its average volume of 1,878,894. Perpetua Resources has a 52 week low of $8.84 and a 52 week high of $37.37. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of -28.58 and a beta of 0.15. The firm has a 50-day moving average price of $30.26 and a 200 day moving average price of $26.64.

Insider Buying and Selling

In other Perpetua Resources news, insider Mckinsey Margaret Lyon sold 43,722 shares of the business’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $27.57, for a total value of $1,205,415.54. Following the sale, the insider directly 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. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert Alan Dean sold 3,308 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $26.28, for a total value of $86,934.24. Following the transaction, the director owned 24,702 shares of the company’s stock, valued at $649,168.56. The trade was a 11.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 110,249 shares of company stock worth $2,979,254 in the last 90 days. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a report on Thursday, January 22nd. HC Wainwright raised their price objective on shares of Perpetua Resources from $30.00 to $41.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Finally, 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 report on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Perpetua Resources has an average rating of “Moderate Buy” and a consensus 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.