Perpetua Resources (PPTA) AI Stock Analysis

• Market Cap: $3.57B
• Dividend Yield: N/A
• Average Volume (3M): 1.89M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.48
• Revenue Growth: N/A
• EPS Growth: -128.69%
• Country: US
• Employees: 36
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Other Precious Metals
• EPS (TTM): -0.24
• Shares Outstanding: 121,872,680
• 10 Day Avg. Volume: 1,439,393
• 30 Day Avg. Volume: 1,893,473
• PEG Ratio: <0.01
• Price to Book (P/B): 6.43
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -48.06
• Enterprise Value/Market Cap: 0.91
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -13.96K
• Enterprise Value/Ebitda: -73.35
• 1Y Price Target: $40.50
• Price Target Upside: 34.19% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 56 Neutral
• Price Target: $27.00 ▼(-10.54% Downside)
• Action: Reiterated Date: 01/18/26
• Date: Action: Reiterated 01/18/26

The score is held back primarily by pre-revenue financial performance and ongoing cash burn, despite a strong low-leverage balance sheet. Technicals are supportive with a strong uptrend, and corporate updates indicate meaningful progress on project execution and funding, but valuation remains challenged due to continued losses.

Positive Factors

Strong Equity Position

A strong equity position indicates financial stability, providing a cushion against potential losses and enabling future investment opportunities.

Low Leverage

Low leverage reduces financial risk, allowing the company more flexibility in financing future projects without the burden of high interest costs.

Improvement in Net Income

Improvement in net income suggests better cost management and operational efficiencies, which are crucial for long-term profitability and growth.

Negative Factors

Lack of Revenue Generation

The absence of revenue is a major concern as it limits the company's ability to sustain operations and invest in growth, affecting long-term viability.

Negative Operating Cash Flow

Negative operating cash flow indicates that the company is not generating enough cash from its core operations, which can strain liquidity and financial health.

Reliance on Financing Activities

Dependence on external financing for cash flow can be unsustainable, leading to potential dilution of equity or increased financial obligations.

Perpetua Resources Business Overview & Revenue Model

Company Description

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.

How the Company Makes Money

Perpetua Resources makes money primarily through the exploration, development, and future production of gold and antimony from the Stibnite Gold Project. The company's revenue model is centered around the extraction and sale of these valuable minerals. Key revenue streams will include the sale of gold, which is one of the most sought-after precious metals, and antimony, which is used in various industrial applications such as flame retardants and batteries. Perpetua Resources' earnings are influenced by global commodity prices, mining output, and operational efficiencies. Significant partnerships, regulatory approvals, and investments also play crucial roles in the company's potential profitability and financial success.

Perpetua Resources Financial Statement Overview

Summary

Operating fundamentals are weak with zero revenue and sizable, persistent losses (TTM net loss ~$44.3M) alongside significant cash burn (TTM FCF about -$60.9M). The main offset is a strong, lightly levered balance sheet (debt-to-equity near zero; sizable equity base), which lowers near-term solvency risk but does not resolve the lack of self-funded operations.

Income Statement

The company has generated no revenue across the annual periods provided and in TTM (Trailing-Twelve-Months), while operating losses remain sizable (TTM net loss of about $44.3M). Losses have been persistent over multiple years, and TTM profitability metrics are not meaningful given zero revenue and negative gross profit. A modest positive sign is that annual net losses have generally narrowed from 2020–2024, but TTM losses widened again versus 2024, indicating cost pressure or elevated spending.

Balance Sheet

The balance sheet is a relative strength: leverage is extremely low (TTM debt-to-equity is near zero), and equity represents the bulk of the capital structure (TTM equity of ~$532.0M vs. total debt of ~$0.05M). Total assets have expanded materially versus prior annual periods, supporting financial flexibility. The key weakness is returns: profitability is negative over the annual history, and the TTM return on equity appears positive despite a TTM net loss, suggesting earnings-quality/measurement inconsistency in the provided fields and reinforcing that operating performance is still not self-funding.

Cash Flow

Cash burn remains significant: TTM operating cash flow is about -$44.4M and free cash flow is about -$60.9M, consistent with a development-stage profile. While free cash flow trends improved in several annual periods (and the TTM free cash flow growth metric is positive), the business is still consuming cash rather than generating it. Cash flow is roughly in line with reported losses (TTM free cash flow to net income slightly above 1), but the overall picture is ongoing funding needs until operations scale or revenues begin.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-231.53K	-1.64M	-981.91K	-4.63M	-12.26M	-284.41K
EBITDA	-44.07M	-12.84M	-17.79M	-24.09M	-23.33M	-216.96M
Net Income	-44.29M	-14.48M	-18.77M	-28.71M	-35.95M	-220.63M
Balance Sheet
Total Assets	544.89M	117.61M	83.09M	99.45M	124.50M	98.13M
Cash, Cash Equivalents and Short-Term Investments	445.83M	44.10M	3.23M	22.67M	47.85M	25.04M
Total Debt	48.70K	28.29K	27.90K	70.45K	69.99K	9.83M
Total Liabilities	12.89M	8.75M	10.79M	13.61M	12.90M	40.50M
Stockholders Equity	531.99M	108.86M	72.30M	85.83M	111.60M	57.63M
Cash Flow
Free Cash Flow	-60.87M	-14.57M	-21.64M	-25.23M	-28.97M	-29.34M
Operating Cash Flow	-44.35M	-11.89M	-21.19M	-24.71M	-28.65M	-28.81M
Investing Cash Flow	-16.52M	5.67M	-449.80K	-465.84K	-3.33M	-245.51K
Financing Cash Flow	495.53M	47.15M	2.20M	0.00	54.79M	36.57M

Perpetua Resources Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 30.18
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PPTA, the sentiment is Positive. The current price of 30.18 is above the 20-day moving average (MA) of 29.98, above the 50-day MA of 28.96, and above the 200-day MA of 21.05, indicating a bullish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 52.15 is Neutral, neither overbought nor oversold. The STOCH value of 79.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PPTA.

Perpetua Resources Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BVN	71 Outperform	$9.52B	22.14	12.35%	1.45%	27.42%	20.63%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
SLVM	56 Neutral	$1.88B	14.83	14.56%	3.51%	-8.92%	-32.30%
PPTA	56 Neutral	$3.57B	-60.42	-14.54%	―	―	-128.69%
METC	56 Neutral	$1.04B	-28.68	-7.40%	2.83%	-16.99%	-184.02%
MUX	55 Neutral	$1.45B	-112.88	-2.41%	―	-16.62%	-110.79%

Perpetua Resources Corporate Events

Perpetua Resources Signs EPCM Agreement for Stibnite Project

On December 18, 2025, Perpetua Resources Idaho, Inc. signed an engineering, procurement, and construction management services agreement with Hatch Ltd. for defined portions of the Stibnite Gold Project, covering design, engineering, procurement management, construction management, project controls, and commissioning and operational readiness support. The scope, to be finalized in February 2026, is expected to include the balance of the process plant, the pressure oxidation facility and associated on-site infrastructure and utilities, while key off-site and certain on-site elements such as power transmission, roadway construction, tailings embankment works, water treatment design, and diversion tunnel will remain directly managed by Perpetua or other contractors. Hatch will be paid on a cost-plus basis with a performance-based incentive pool, and Perpetua currently anticipates a control budget of $200–$220 million for the scoped services, though this does not represent a guaranteed maximum price and may change as engineering and construction progress. The agreement clearly delineates responsibilities—Hatch providing management, oversight and coordination but not acting as the construction contractor of record—with customary terms on safety, liability, termination for cause or convenience, and indemnities, underscoring a structured risk-sharing framework as Perpetua advances the Stibnite project into detailed execution planning.

The most recent analyst rating on (PPTA) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Perpetua Resources stock, see the PPTA Stock Forecast page.

Perpetua Resources Appoints New Senior VP Projects

Perpetua Resources Corp. announced the appointment of James Norine as Senior Vice President Projects, effective December 1, 2025. Norine, with a strong background in engineering and management from Hatch Engineering Ltd. and Ausenco Engineering USA, will oversee project development. His employment agreement includes a base salary, bonuses, and equity awards contingent on achieving operational milestones. The company also reported the resignation of Michael Wright as Vice President, Projects, who will continue as a consultant to ensure a smooth transition. Additionally, Perpetua Resources revised its executive compensation framework to align with industry practices, affecting key figures like CEO Jonathan Cherry and CFO Mark Murchison.

The most recent analyst rating on (PPTA) stock is a Buy with a $30.00 price target. To see the full list of analyst forecasts on Perpetua Resources stock, see the PPTA Stock Forecast page.

Perpetua Resources Unveils Stibnite Gold Project Plans

On November 24, 2025, Perpetua Resources Corp. released an investor presentation outlining its plans for the Stibnite Gold Project. The presentation includes forward-looking statements regarding the project’s financial and operational projections, potential environmental benefits, and the company’s ability to secure necessary financing and permits. The announcement highlights the company’s strategic positioning in the mining industry and its commitment to contributing to national security and clean energy transition.

The most recent analyst rating on (PPTA) stock is a Buy with a $30.00 price target. To see the full list of analyst forecasts on Perpetua Resources stock, see the PPTA Stock Forecast page.