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

Perpetua Resources (NASDAQ:PPTAGet Free Report) announced its earnings results on Friday. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.59), FiscalAI reports.

Perpetua Resources Stock Up 2.0%

PPTA stock traded up $0.49 during midday trading on Friday, hitting $25.24. The stock had a trading volume of 677,606 shares, compared to its average volume of 1,256,724. The company’s 50-day moving average price is $21.15 and its 200 day moving average price is $26.51. Perpetua Resources has a 12-month low of $16.28 and a 12-month high of $37.37.

Institutional Investors Weigh In On Perpetua Resources

Several hedge funds have recently made changes to their positions in PPTA. Tower Research Capital LLC TRC grew its position in shares of 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 lifted its position in Perpetua Resources by 6.2% during the fourth 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 period. Smartleaf Asset Management LLC purchased a new position in Perpetua Resources during the fourth quarter worth about $31,000. UMB Bank n.a. purchased a new position in Perpetua Resources during the fourth quarter worth about $36,000. Finally, Kestra Advisory Services LLC acquired a new stake in Perpetua Resources in the 4th quarter worth about $40,000. Institutional investors and hedge funds own 70.07% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Read Our Latest Research Report on Perpetua Resources

Perpetua Resources Company Profile

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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.

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Earnings History for Perpetua Resources (NASDAQ:PPTA)

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