Perpetua Resources (NASDAQ:PPTA) Shares Gap Down on Disappointing Earnings

Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report)'s share price gapped down prior to trading on Monday following a weaker than expected earnings announcement. The stock had previously closed at $15.18, but opened at $14.10. Perpetua Resources shares last traded at $12.35, with a volume of 509,443 shares changing hands.

The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.07).

Analyst Ratings Changes

Several research analysts have commented on the stock. National Bankshares restated an "outperform" rating on shares of Perpetua Resources in a report on Wednesday, April 2nd. National Bank Financial upgraded shares of Perpetua Resources to a "strong-buy" rating in a report on Friday, March 21st. Finally, HC Wainwright lowered their target price on shares of Perpetua Resources from $28.00 to $27.50 and set a "buy" rating for the company in a report on Tuesday.

Insider Transactions at Perpetua Resources

In other news, insider Alan Douglas Haslam sold 10,400 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $9.24, for a total transaction of $96,096.00. Following the sale, the insider now owns 65,763 shares of the company's stock, valued at $607,650.12. This trade represents a 13.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael Stephen Wright sold 6,500 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $13.85, for a total transaction of $90,025.00. Following the transaction, the insider now directly owns 14,195 shares of the company's stock, valued at $196,600.75. The trade was a 31.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders purchased 20,230 shares of company stock valued at $166,582 and sold 59,610 shares valued at $606,423. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Perpetua Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can lifted its holdings in shares of Perpetua Resources by 1.6% during the 4th quarter. Bank of Montreal Can now owns 67,594 shares of the company's stock valued at $721,000 after buying an additional 1,054 shares during the period. Corebridge Financial Inc. boosted its position in Perpetua Resources by 7.8% in the first quarter. Corebridge Financial Inc. now owns 20,644 shares of the company's stock worth $221,000 after purchasing an additional 1,498 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Perpetua Resources by 24.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,722 shares of the company's stock valued at $168,000 after purchasing an additional 3,067 shares during the period. Lane & Associates LLC lifted its stake in shares of Perpetua Resources by 24.0% in the 4th quarter. Lane & Associates LLC now owns 15,987 shares of the company's stock worth $189,000 after purchasing an additional 3,095 shares during the period. Finally, Ancora Advisors LLC bought a new position in Perpetua Resources in the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 70.07% of the company's stock.

Perpetua Resources Trading Down 6.2%

The firm has a market cap of $820.50 million, a PE ratio of -52.32 and a beta of 0.06. The company's 50 day moving average price is $12.00 and its two-hundred day moving average price is $11.15.

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.