Perpetua Resources (PPTA) Projected to Post Quarterly Earnings on Friday

Key Points

• Perpetua Resources will announce its quarterly earnings on Friday, August 8th, with analysts expecting earnings of ($0.14) per share.
• The company's last reported earnings missed expectations, posting ($0.12) earnings per share in May, falling short of the consensus estimate of ($0.05).
• Major shareholder Paulson & Co. Inc. significantly increased its ownership by purchasing 7,575,757 shares, boosting their stake by 30.58%.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) is anticipated to release its earnings data before the market opens on Friday, August 8th. Analysts expect Perpetua Resources to post earnings of ($0.14) per share for the quarter.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.07). 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 Up 5.5%

Shares of PPTA traded up $0.84 during trading hours on Monday, reaching $16.00. The company's stock had a trading volume of 521,668 shares, compared to its average volume of 1,699,541. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -55.17 and a beta of -0.02. Perpetua Resources has a 1-year low of $5.25 and a 1-year high of $18.04. The company has a 50 day moving average of $14.56 and a two-hundred day moving average of $12.59.

Insider Buying and Selling

In related news, major shareholder Paulson & Co. Inc. bought 7,575,757 shares of the firm's stock in a transaction on Monday, June 16th. The stock was purchased at an average price of $13.20 per share, with a total value of $99,999,992.40. Following the completion of the transaction, the insider directly owned 32,347,299 shares of the company's stock, valued at $426,984,346.80. This trade represents a 30.58% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On Perpetua Resources

Several hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. boosted its position in shares of Perpetua Resources by 1.7% in the first quarter. Goldman Sachs Group Inc. now owns 108,921 shares of the company's stock valued at $1,164,000 after acquiring an additional 1,835 shares during the period. Millennium Management LLC boosted its position in shares of Perpetua Resources by 219.0% in the first quarter. Millennium Management LLC now owns 1,181,899 shares of the company's stock valued at $12,634,000 after acquiring an additional 811,363 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Perpetua Resources by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,958 shares of the company's stock valued at $672,000 after acquiring an additional 2,680 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of Perpetua Resources by 12.6% in the first quarter. AQR Capital Management LLC now owns 15,909 shares of the company's stock valued at $170,000 after acquiring an additional 1,780 shares during the period. 70.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. HC Wainwright reiterated a "buy" rating and issued a $27.50 target price on shares of Perpetua Resources in a report on Tuesday, June 17th. B. Riley restated a "buy" rating and issued a $17.00 price objective (up previously from $16.00) on shares of Perpetua Resources in a report on Wednesday, June 18th. National Bankshares restated an "outperform" rating on shares of Perpetua Resources in a report on Wednesday, June 18th. Finally, Royal Bank Of Canada initiated coverage on Perpetua Resources in a report on Friday, July 18th. They issued an "outperform" rating and a $23.00 price objective on the stock. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Perpetua Resources has an average rating of "Buy" and a consensus target price of $21.63.

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.