Perpetua Resources (PPTA) Expected to Announce Earnings on Wednesday

Perpetua Resources (NASDAQ:PPTA) will likely be announcing its results before the market opens on Wednesday, November 12th. Analysts expect the company to announce earnings of ($0.01) per share for the quarter.

Perpetua Resources (NASDAQ:PPTA) last released its earnings results on Wednesday, August 13th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06. On average, analysts expect Perpetua Resources to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Perpetua Resources Stock Down 5.9%

PPTA stock opened at $21.31 on Wednesday. Perpetua Resources has a twelve month low of $7.81 and a twelve month high of $31.65. The company has a market cap of $2.53 billion, a PE ratio of -68.74 and a beta of 0.02. The business’s 50-day simple moving average is $21.39 and its 200 day simple moving average is $17.15.

Insider Buying and Selling at Perpetua Resources

In other news, insider Michael Stephen Wright sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $18.31, for a total value of $183,100.00. Following the completion of the transaction, the insider owned 14,195 shares of the company’s stock, valued at $259,910.45. The trade was a 41.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan Cherry sold 14,911 shares of the company’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $23.72, for a total transaction of $353,688.92. Following the completion of the transaction, the insider directly owned 36,249 shares of the company’s stock, valued at approximately $859,826.28. The trade was a 29.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Perpetua Resources

Large investors have recently modified their holdings of the business. Osaic Holdings Inc. grew its holdings in Perpetua Resources by 157.2% during the second quarter. Osaic Holdings Inc. now owns 17,546 shares of the company’s stock worth $213,000 after purchasing an additional 10,723 shares during the period. Tower Research Capital LLC TRC raised its holdings in Perpetua Resources by 4.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 15,872 shares of the company’s stock valued at $193,000 after acquiring an additional 697 shares during the period. Captrust Financial Advisors bought a new position in Perpetua Resources in the 2nd quarter valued at about $201,000. Oxford Asset Management LLP bought a new position in Perpetua Resources in the 2nd quarter valued at about $157,000. Finally, Orion Resource Partners LP bought a new position in shares of Perpetua Resources during the second quarter worth approximately $330,000. 70.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PPTA. UBS Group set a $30.00 price objective on Perpetua Resources in a report on Thursday, October 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Perpetua Resources in a research note on Wednesday, October 8th. Roth Capital set a $32.00 target price on shares of Perpetua Resources and gave the company a “buy” rating in a research note on Wednesday, October 22nd. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Perpetua Resources in a research note on Tuesday, September 23rd. Finally, B. Riley reiterated a “buy” rating on shares of Perpetua Resources in a research note on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $29.00.

About Perpetua Resources

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.