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

Perpetua Resources (NASDAQ:PPTA) released its earnings results on Friday. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.59), FiscalAI reports.

Perpetua Resources Stock Up 2.0%

PPTA traded up $0.49 on Friday, reaching $25.24. 677,606 shares of the company’s stock were exchanged, compared to its average volume of 1,256,724. Perpetua Resources has a twelve month low of $16.28 and a twelve month high of $37.37. The company’s 50 day moving average is $21.15 and its 200-day moving average is $26.51.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Perpetua Resources in a research note on Friday, July 17th. Zacks Research upgraded Perpetua Resources from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. B. Riley Financial started coverage on Perpetua Resources in a research report on Monday, August 3rd. They issued a “buy” rating and a $30.00 target price on the stock. Finally, HC Wainwright increased their target price on Perpetua Resources from $41.00 to $43.50 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $35.90.

Institutional Investors Weigh In On Perpetua Resources

Several institutional investors have recently bought and sold shares of PPTA. Russell Investments Group Ltd. boosted its position in Perpetua Resources by 2,190.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,734 shares of the company’s stock worth $136,000 after purchasing an additional 6,440 shares during the period. Osaic Holdings Inc. raised its position in Perpetua Resources by 157.2% in the second quarter. Osaic Holdings Inc. now owns 17,546 shares of the company’s stock valued at $213,000 after purchasing an additional 10,723 shares during the period. Tower Research Capital LLC TRC raised its position in Perpetua Resources by 4.6% in the second quarter. Tower Research Capital LLC TRC now owns 15,872 shares of the company’s stock valued at $193,000 after purchasing an additional 697 shares during the period. Captrust Financial Advisors purchased a new position in Perpetua Resources in the second quarter valued at about $201,000. Finally, Oxford Asset Management LLP acquired a new position in shares of Perpetua Resources during the second quarter worth about $157,000. 70.07% of the stock is currently owned by hedge funds and other institutional investors.

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.