FY2024 EPS Forecast for Perpetua Resources Cut by Analyst

Perpetua Resources Corp. (NASDAQ:PPTA) – Equities research analysts at National Bank Financial lowered their FY2024 earnings per share (EPS) estimates for shares of Perpetua Resources in a research note issued to investors on Tuesday, December 3rd. National Bank Financial analyst M. Parkin now anticipates that the company will post earnings of ($0.19) per share for the year, down from their previous forecast of ($0.18). National Bank Financial has a “Outperform” rating on the stock. The consensus estimate for Perpetua Resources’ current full-year earnings is ($0.21) per share. National Bank Financial also issued estimates for Perpetua Resources’ FY2025 earnings at ($0.17) EPS and FY2026 earnings at ($0.38) EPS.

Several other research firms have also recently commented on PPTA. Roth Mkm raised their target price on shares of Perpetua Resources from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. HC Wainwright increased their price objective on shares of Perpetua Resources from $13.25 to $22.00 and gave the company a “buy” rating in a report on Friday, November 15th.

Perpetua Resources Stock Performance

Shares of PPTA opened at $12.24 on Friday. The firm has a market capitalization of $858.88 million, a price-to-earnings ratio of -55.64 and a beta of 0.22. The stock’s fifty day moving average is $9.77 and its 200-day moving average is $8.01. Perpetua Resources has a one year low of $2.69 and a one year high of $12.71.

Insider Activity

In other news, insider Alan Douglas Haslam sold 40,000 shares of Perpetua Resources stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $10.07, for a total value of $402,800.00. Following the transaction, the insider now owns 65,571 shares of the company’s stock, valued at $660,299.97. The trade was a 37.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.90% of the company’s stock.

Institutional Trading of Perpetua Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in PPTA. Price T Rowe Associates Inc. MD bought a new position in shares of Perpetua Resources in the first quarter valued at $51,000. Bank of New York Mellon Corp raised its position in shares of Perpetua Resources by 20.0% during the second quarter. Bank of New York Mellon Corp now owns 107,551 shares of the company’s stock worth $559,000 after purchasing an additional 17,954 shares during the period. Flaharty Asset Management LLC purchased a new stake in shares of Perpetua Resources during the second quarter valued at $70,000. Rhumbline Advisers boosted its position in shares of Perpetua Resources by 51.0% in the 2nd quarter. Rhumbline Advisers now owns 49,450 shares of the company’s stock valued at $257,000 after purchasing an additional 16,698 shares during the period. Finally, National Bank of Canada FI increased its stake in Perpetua Resources by 37.5% in the 2nd quarter. National Bank of Canada FI now owns 55,000 shares of the company’s stock worth $281,000 after purchasing an additional 15,000 shares in the last quarter. 70.07% of the stock is owned by institutional investors and hedge funds.

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.