Perpetua Resources (NASDAQ:PPTA) Issues Earnings Results

Perpetua Resources (NASDAQ:PPTA) announced its quarterly earnings data on Wednesday. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03, Zacks reports.

Perpetua Resources Stock Up 3.5 %

Shares of PPTA traded up $0.38 during midday trading on Wednesday, reaching $11.15. The company had a trading volume of 814,297 shares, compared to its average volume of 486,790. Perpetua Resources has a 1-year low of $3.85 and a 1-year high of $13.23. The stock has a market cap of $784.30 million, a PE ratio of -50.68 and a beta of 0.27. The firm has a 50 day simple moving average of $10.61 and a 200-day simple moving average of $10.22.

Insiders Place Their Bets

In other news, Director Robert Alan Dean bought 5,000 shares of the company’s stock in a transaction on Friday, February 21st. The stock was bought at an average cost of $8.32 per share, with a total value of $41,600.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $83,200. The trade was a 100.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alan Douglas Haslam sold 10,400 shares of Perpetua Resources stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $9.24, for a total value of $96,096.00. Following the completion of the transaction, the insider now directly owns 65,763 shares of the company’s stock, valued at approximately $607,650.12. This represents a 13.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased 20,230 shares of company stock valued at $166,582 in the last three months. 1.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PPTA. HC Wainwright raised their price objective on Perpetua Resources from $22.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Roth Mkm raised their target price on Perpetua Resources from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th.

Perpetua Resources Company Profile

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.