Perpetua Resources (PPTA) to Release 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 announce its earnings results before the market opens on Friday, August 8th. Analysts expect the company to announce earnings of ($0.14) per share for the quarter.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The company reported ($0.12) 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 Trading Up 0.4%

Shares of PPTA stock traded up $0.06 during trading hours on Friday, hitting $15.16. 1,700,401 shares of the company's stock were exchanged, compared to its average volume of 3,080,971. The company has a market capitalization of $1.63 billion, a PE ratio of -52.28 and a beta of -0.02. Perpetua Resources has a 12-month low of $5.25 and a 12-month high of $18.04. The business's 50 day simple moving average is $14.54 and its 200-day simple moving average is $12.55.

Analyst Ratings Changes

Several research analysts have commented on PPTA shares. HC Wainwright reissued a "buy" rating and set a $27.50 price target on shares of Perpetua Resources in a research note on Tuesday, June 17th. Royal Bank Of Canada began coverage on shares of Perpetua Resources in a research note on Friday, July 18th. They set an "outperform" rating and a $23.00 price target on the stock. B. Riley restated a "buy" rating and issued a $17.00 target price (up previously from $16.00) on shares of Perpetua Resources in a report on Wednesday, June 18th. Finally, National Bankshares restated an "outperform" rating on shares of Perpetua Resources in a report on Wednesday, June 18th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Perpetua Resources currently has a consensus rating of "Buy" and a consensus target price of $21.63.

Insiders Place Their Bets

In other Perpetua Resources news, major shareholder Paulson & Co. Inc. bought 7,575,757 shares of the company's stock in a transaction dated Monday, June 16th. The shares were purchased at an average price of $13.20 per share, for a total transaction of $99,999,992.40. Following the acquisition, the insider owned 32,347,299 shares in the company, valued at approximately $426,984,346.80. This represents a 30.58% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Perpetua Resources

A number of hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its position in Perpetua Resources by 1.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 108,921 shares of the company's stock worth $1,164,000 after buying an additional 1,835 shares during the last quarter. Millennium Management LLC grew its stake in shares of Perpetua Resources by 219.0% during the 1st quarter. Millennium Management LLC now owns 1,181,899 shares of the company's stock valued at $12,634,000 after purchasing an additional 811,363 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Perpetua Resources by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,958 shares of the company's stock valued at $672,000 after purchasing an additional 2,680 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Perpetua Resources by 12.6% during the 1st quarter. AQR Capital Management LLC now owns 15,909 shares of the company's stock valued at $170,000 after purchasing an additional 1,780 shares during the period. Hedge funds and other institutional investors own 70.07% of the company's stock.

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.