Perpetua Resources (NASDAQ:PPTA) Announces Quarterly Earnings Results

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

Perpetua Resources Trading Up 4.9%

PPTA traded up $1.46 during trading hours on Monday, hitting $31.41. The company’s stock had a trading volume of 825,311 shares, compared to its average volume of 1,704,244. Perpetua Resources has a fifty-two week low of $11.22 and a fifty-two week high of $37.37. The firm has a market capitalization of $3.92 billion, a PE ratio of -29.94 and a beta of 0.02. The company has a 50-day simple moving average of $30.07 and a 200 day simple moving average of $28.03.

Insider Activity at Perpetua Resources

In related news, insider Jonathan Cherry sold 4,079 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $29.31, for a total value of $119,555.49. Following the sale, the insider directly owned 44,895 shares in the company, valued at $1,315,872.45. This trade represents a 8.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mckinsey Margaret Lyon sold 8,699 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $29.53, for a total value of $256,881.47. Following the completion of the sale, the insider owned 142,329 shares in the company, valued at approximately $4,202,975.37. This represents a 5.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 56,500 shares of company stock worth $1,581,853. 0.57% of the stock is owned by insiders.

Institutional Trading of Perpetua Resources

Several large investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC bought a new position in Perpetua Resources during the 4th quarter valued at $31,000. UMB Bank n.a. bought a new position in Perpetua Resources during the 4th quarter valued at $36,000. Kestra Advisory Services LLC bought a new position in Perpetua Resources during the 4th quarter valued at $40,000. Osterweis Capital Management Inc. bought a new position in Perpetua Resources during the 4th quarter valued at $63,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Perpetua Resources during the 4th quarter valued at $66,000. 70.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on PPTA shares. B. Riley Financial increased their price target on Perpetua Resources from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. HC Wainwright reiterated a “buy” rating and set a $41.00 price target on shares of Perpetua Resources in a research report on Wednesday, April 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a research report on Tuesday, April 21st. Finally, Zacks Research cut Perpetua Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 8th. Six analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.00.

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.