PPTA
Perpetua Resources Corp.Basic Materials·Other Precious Metals
$27.07
$3.4B market cap
Revenue
$0.0M
Free Cash Flow
$-119.0M
Rev Growth
+0.0%
FCF Margin
0.0%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
Perpetua Resources Corp. engages in the mineral exploration activities in the United States. The company primarily explores for gold, silver, and antimony. Its principal asset is the 100% owned Stibnite gold project located in Valley County, Idaho. The company was formerly known as Midas Gold Corp. and changed its name to Perpetua Resources Corp. in February 2021. Perpetua Resources Corp. was incorporated in 2011 and is headquartered in Boise, Idaho.
2-Year Price History
$25.32+270.2%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 0.0 | -56.4 | -56.6 | -48.6 | -27.0 | -46.4 | -19.4 | 669.5 | 3.6 | 124.7 | -96.7% | -- | -- |
| Act | 2025-Q4 | 0.0 | -67.2 | -67.5 | -60.4 | -59.8 | -72.6 | -12.8 | 773.7 | 0.2 | 93.2 | -96.4% | -- | -- |
Valuation & Metrics
Market Stats
Price$27.07
Market Cap$3.4B
Enterprise Value$2.7B
P/S Ratio0.0x
P/FCF--
EV/FCF--
FCF Margin (TTM)0.0%
FCF Yield-3.5%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$0.0M
Net Income$-109.0M
Free Cash Flow$-119.0M
Revenue Growth (YoY)+0.0%
EBITDA Margin0.0%
Net Margin0.0%
FCF Margin0.0%
CapEx % of Revenue0.0%
SBC % of Revenue0.0%
ROIC-96.6%
WC Change % Rev0.0%
Interest Coverage--
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares11.2M
Days to Cover8.6
Change (vs Prior)+4.2%
Need at least 2 settlement dates for chart
Employees
Headcount36
Revenue / Employee$0
Gross Profit / Employee$-5,392
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
60.1%(+46.5% YoY)
247 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
10.9%(+9.4% YoY)
10 filers
Vanguard, iShares, SPDR
Market makers
0.4%(+0.3% YoY)
7 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| PAULSON & CO. INC. | $910M | $12.14 | +$0 | +$213M | -0.9% | $3.11B |
| Tidal Investments LLC | $151M | $24.18 | −$16.4M | +$151M | -0.2% | $32.04B |
| BlackRock, Inc.Passive | $149M | $14.87 | +$1.7M | +$81.4M | -0.2% | $5.69T |
| VAN ECK ASSOCIATES CORP | $76.0M | $14.25 | −$6.2M | +$20.9M | +0.8% | $133.17B |
| JPMORGAN CHASE & CO | $75.1M | $23.53 | +$1.6M | +$74.5M | -0.2% | $1.47T |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $69.9M | $28.12 | +$69.8M | +$69.9M | — | $4.04T |
| Capital World Investors | $68.5M | $26.82 | +$45.7M | +$68.5M | +0.3% | $732.46B |
| SPROTT INC. | $63.6M | $9.60 | −$2.5M | −$31.9M | +1.7% | $3.29B |
| STATE STREET CORPPassive | $43.3M | $16.67 | +$1.9M | +$24.1M | -0.2% | $2.89T |
| Connor, Clark & Lunn Investment Management Ltd. | $43.1M | $23.73 | +$6.4M | +$39.9M | +0.6% | $43.38B |
| Amundi | $38.9M | $16.67 | +$10.6M | +$10.3M | -0.2% | $366.88B |
| DISCOVERY CAPITAL MANAGEMENT, LLC / CT | $36.7M | $22.61 | +$0 | +$36.7M | +1.4% | $1.92B |
| Brevan Howard Capital Management LP | $32.9M | $21.29 | +$20.6M | +$17.0M | -0.9% | $9.34B |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $31.9M | $13.10 | +$1.2M | +$16.0M | +2.3% | $1.61T |
| DRIEHAUS CAPITAL MANAGEMENT LLC | $30.5M | $15.76 | +$3.6M | +$30.5M | +0.3% | $13.60B |
| GOLDMAN SACHS GROUP INC | $29.1M | $21.87 | +$12.1M | +$26.1M | -0.2% | $760.93B |
| Empyrean Capital Partners, LP | $23.6M | $12.79 | −$5.3M | +$23.6M | +3.3% | $2.82B |
| VANGUARD FIDUCIARY TRUST COPassive | $23.4M | $28.12 | +$23.4M | +$23.4M | — | $395.83B |
| VANGUARD PORTFOLIO MANAGEMENT LLCPassive | $23.3M | $28.12 | +$23.3M | +$23.3M | — | $1.91T |
| TEACHER RETIREMENT SYSTEM OF TEXAS | $22.5M | $24.21 | −$36K | +$22.5M | +0.5% | $24.00B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BULLISH
Holders
+0.46%
avg per quarter
Holders (ex-self)
-0.16%
excl. this stock
Buyers (this Q)
+0.15%
141 buyers · $0.40B in
Sellers (this Q)
-0.79%
78 sellers · $0.04B out
alpha coverage: 95% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
-25.0%
how holders react when this stock falls
On quiet Qs
+0.2%
−10% to +10% baseline
On rallies (+10%+)
-3.1%
how they react when this stock rises
Holders' portfolio flow this Q
+2.8%
inflows — adds are organic
Sellers' portfolio flow this Q
-3.1%
Sellers shed AUM broadly — partly forced.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-1.5%
Holder mid (any stock)
-1.5%
Holder rally (any stock)
-0.4%
Biggest decreases this quarter
Tidal Investments LLC−$16.4Mα-0.2VAN ECK ASSOCIATES CORP−$6.2Mα+0.8Qube Research & Technologies Ltdexited−$6.2MEmpyrean Capital Partners, LP−$5.3Mα+3.3SUSQUEHANNA ADVISORS GROUP, INC.exited−$4.9MYaupon Capital Management LPexited−$4.6MBoston Partnersexited−$4.2MEncompass Capital Advisors LLCexited−$4.1MY-Intercept (Hong Kong) Ltdexited−$2.7MFOURSIXTHREE CAPITAL LPexited−$2.6M
New buyers this quarter
Top-5 holders · 56.7%
PAULSON & CO. INC.--
Tidal Investments LLC--
BlackRock, Inc.--
VAN ECK ASSOCIATES CORP--
JPMORGAN CHASE & CO--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
PAULSON & CO. INC.32.3MTidal Investments LLC5.4MAlyeska Investment Group, L.P.237KVAN ECK ASSOCIATES CORP2.7MJPMORGAN CHASE & CO3.0MCapital World Investors2.4MSPROTT INC.2.3MMILLENNIUM MANAGEMENT LLC82KEncompass Capital Advisors LLC—Connor, Clark & Lunn Investment Management Ltd.1.5M
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Analyst Coverage
Analyst Coverage
Price Targets
Last Year (5 analysts)$37.603890.0%
Current Price$27.07
Analyst Ratings
3
Buy: 3Consensus: Buy
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Sells ($, 12mo)
$4.56M
16 txns · 7 insiders · 173,129 sh
Major holders (≥10% beneficial owners)
Buys ($, 12mo)
$100.00M
1 txn · 1 insider · 7,575,757 sh
Sells ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-04-02 | SELL | Cherry Jonathan | director, officer: (See remarks (3)) | 4,079 | $29.31 | $120K | $1.32M |
| 2026-04-02 | SELL | Lyon Mckinsey Margaret | officer: (See remarks (5)) | 8,699 | $29.53 | $257K | $4.20M |
| 2026-02-12 | SELL | Lyon Mckinsey Margaret | officer: (See remarks (7)) | 43,722 | $27.57 | $1.21M | $3.64M |
| 2026-01-07 | SELL | Sternhell Alexander McLeod | director | 3,000 | $29.09 | $87K | $476K |
| 2026-01-06 | SELL | Dean Robert Alan | director | 2,400 | $27.14 | $65K | $605K |
| 2026-01-06 | SELL | Malmen Jeffrey L | director | 5,000 | $26.57 | $133K | $380K |
| 2026-01-06 | SELL | Robison Chris J | director | 3,500 | $26.57 | $93K | $2.28M |
| 2026-01-05 | SELL | Robison Chris J | director | 10,201 | $26.24 | $268K | $2.34M |
| 2026-01-05 | SELL | Sternhell Alexander McLeod | director | 10,148 | $26.50 | $269K | $513K |
| 2026-01-05 | SELL | Lyon Mckinsey Margaret | officer: (See remarks (4)) | 32,490 | $26.61 | $865K | $2.57M |
| 2026-01-05 | SELL | Malmen Jeffrey L | director | 10,181 | $26.34 | $268K | $509K |
| 2026-01-05 | SELL | Dean Robert Alan | director | 3,308 | $26.28 | $87K | $649K |
| 2025-12-24 | SELL | Dean Robert Alan | director | 5,000 | $26.31 | $132K | $487K |
| 2025-12-23 | SELL | Dean Robert Alan | director | 6,490 | $27.55 | $179K | $648K |
| 2025-10-06 | SELL | Cherry Jonathan | officer: (See remarks (3)) | 14,911 | $23.72 | $354K | $860K |
| 2025-09-02 | SELL | Wright Michael Stephen | officer: (See remarks (2)) | 10,000 | $18.31 | $183K | $260K |
| 2025-06-16 | BUY | PAULSON & CO. INC. | other: Member of 10% Owner Group | 7,575,757 | $13.20 | $100.00M | $426.98M |
Order Flow (FINRA, ~3w lag)
20.8%retail-1.5pp
25.5%dark+2.9pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
Perpetua Resources Corp.: High-Stakes Antimony Gambit Hedged by Massive Dilution and Litigious Headwinds
Overall Risk
8/10
Fraud
5/10
Dilution
9/10
Insolvency
3/10
Earnings Overstated
4/10
Hidden Liabilities
7/10
Legal
9/10
Audit Warnings
6/10
Hidden Upside
8/10
Contextually Acceptable
7/10