PERPETUA RESOURCES CORP.
PPTA · Gold and Silver Ores · 125.1M shares · +18%/yr ↑ shares · EDGAR filings ↗
Reference price $29.31 · est. market cap ~$3.7B — last insider sale, 2026-04-02 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C63Well-funded pre-revenue gold/antimony developer with a fortress balance sheet but binary permitting and financing risk.
Strengths
- $714M cash, ~27 quarters runway, current ratio 51 — exceptional liquidity for a developer
- Strategic antimony/gold project with potential US EXIM financing and record gold prices
Risks
- Pre-revenue with history of losses; negative ROE/ROA and -$105.7M FCF
- Binary risk on permits, litigation challenges and EXIM loan closing
- Single-asset concentration and large construction-capital requirement ahead
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Cash burnNegative free cash flow (-105.7M)
- Material weaknessIf an independent assessment of our internal controls detects material weaknesses, or if we are unable to assert that our internal controls over financial reporting are effective, investors may lose c
- Strong balance sheetStrong balance sheet — $714M cash & investments, ~27 quarters of runway
- Insider sellingInsider selling — 14 open-market sale(s) by 6 insider(s) (cluster of 6 insiders, ~$4M, last 6mo) Form 4 ↗
Key metrics
Return on equity
-11.7%
Return on assets
-11.4%
Current ratio
51.1×
Free cash flow
-$106M
Tangible book value
$861M
Cash & investments
$714M
Cash runway
27q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-04-02 | Lyon Mckinsey Margaret | Sell | 6.1K | $29.62 |
| 2026-04-02 | Lyon Mckinsey Margaret | Sell | 2.6K | $29.31 |
| 2026-04-02 | Cherry Jonathan | Sell | 4.1K | $29.31 |
| 2026-02-21 | Lyon Mckinsey Margaret | Option exercise | 5.3K | — |
| 2026-02-21 | Cherry Jonathan | Option exercise | 13K | — |
| 2026-02-16 | Lyon Mckinsey Margaret | Option exercise | 14K | — |
| 2026-02-12 | Lyon Mckinsey Margaret | Sell | 6.3K | $27.54 |
| 2026-02-12 | Lyon Mckinsey Margaret | Sell | 37K | $27.58 |
| 2026-02-11 | Lyon Mckinsey Margaret | Grant | 68K | — |
| 2026-02-10 | Lyon Mckinsey Margaret | Option exercise | 11K | — |
| 2026-01-07 | Sternhell Alexander McLeod | Sell | 3.0K | $29.09 |
| 2026-01-06 | Robison Chris J | Sell | 3.5K | $26.57 |
| 2026-01-06 | Malmen Jeffrey L | Sell | 5.0K | $26.57 |
| 2026-01-06 | Dean Robert Alan | Sell | 2.4K | $27.14 |
| 2026-01-05 | Sternhell Alexander McLeod | Option exercise | 9.5K | $8.59 |
| 2026-01-05 | Robison Chris J | Option exercise | 9.5K | $8.59 |
| 2026-01-05 | Robison Chris J | Sell | 10K | $26.24 |
| 2026-01-05 | Lyon Mckinsey Margaret | Option exercise | 40K | $8.59 |
| 2026-01-05 | Lyon Mckinsey Margaret | Sell | 32K | $26.61 |
| 2026-01-05 | Dean Robert Alan | Option exercise | 9.5K | $8.59 |
| 2026-01-05 | Dean Robert Alan | Sell | 3.3K | $26.28 |
| 2026-01-05 | Sternhell Alexander McLeod | Option exercise | 20K | $8.59 |
| 2026-01-05 | Sternhell Alexander McLeod | Sell | 10K | $26.50 |
| 2026-01-05 | Robison Chris J | Option exercise | 20K | $8.59 |
| 2026-01-05 | Malmen Jeffrey L | Option exercise | 20K | $8.59 |
| 2026-01-05 | Malmen Jeffrey L | Option exercise | 9.5K | $8.59 |
| 2026-01-05 | Malmen Jeffrey L | Sell | 10K | $26.34 |
| 2025-12-24 | Dean Robert Alan | Sell | 5.0K | $26.31 |
| 2025-12-23 | Dean Robert Alan | Sell | 6.5K | $27.55 |
| 2025-12-23 | Dean Robert Alan | Option exercise | 20K | $8.56 |
| 2025-10-06 | Cherry Jonathan | Sell | 15K | $23.72 |
| 2025-10-06 | Cherry Jonathan | Grant | 50K | — |
| 2025-10-06 | Murchison Mark E | Option exercise | 4.0K | — |
| 2025-09-02 | Wright Michael Stephen | Sell | 10K | $18.31 |
| 2025-08-31 | Wright Michael Stephen | Grant | 10K | — |
| 2025-06-16 | PAULSON & CO. INC. | Buy | 7.6M | $13.20 |
| 2025-04-24 | Wright Michael Stephen | Sell | 6.5K | $13.85 |
| 2025-03-28 | Lyon Mckinsey Margaret | Sell | 20K | $11.00 |
| 2025-03-28 | Lyon Mckinsey Margaret | Option exercise | 20K | $2.45 |
| 2025-03-05 | Lyon Mckinsey Margaret | Sell | 19K | $8.82 |
| 2025-03-05 | Largent Jessica Marie | Option exercise | 12K | — |
| 2025-03-05 | Largent Jessica Marie | Grant | 74K | — |
| 2025-03-05 | Largent Jessica Marie | Sell | 3.6K | $8.82 |
| 2025-03-05 | Largent Jessica Marie | Sell | 22K | $8.82 |
| 2025-03-05 | Haslam Alan Douglas | Option exercise | 11K | — |
| 2025-03-05 | Haslam Alan Douglas | Grant | 65K | — |
| 2025-03-05 | Haslam Alan Douglas | Sell | 3.3K | $8.82 |
| 2025-03-05 | Haslam Alan Douglas | Sell | 20K | $8.82 |
| 2025-03-05 | Lyon Mckinsey Margaret | Option exercise | 11K | — |
| 2025-03-05 | Lyon Mckinsey Margaret | Grant | 64K | — |
| 2025-03-05 | Lyon Mckinsey Margaret | Sell | 3.2K | $8.82 |
| 2025-02-26 | Haddock Richie Darrin | Buy | 5.8K | $8.56 |
| 2025-02-24 | Cole Andrew Phillip | Buy | 9.4K | $7.99 |
| 2025-02-21 | Robison Chris J | Buy | 10K | $8.43 |
| 2025-02-21 | Dean Robert Alan | Buy | 5.0K | $8.32 |
| 2025-02-21 | Cherry Jonathan | Buy | 1.2K | $8.60 |
| 2025-02-20 | Lyon Mckinsey Margaret | Sell | 10K | $9.24 |
| 2025-02-20 | Haslam Alan Douglas | Sell | 10K | $9.24 |
| 2025-02-20 | Largent Jessica Marie | Sell | 12K | $9.24 |
| 2025-02-16 | Wright Michael Stephen | Option exercise | 21K | — |
| 2025-02-16 | Lyon Mckinsey Margaret | Option exercise | 14K | — |
| 2025-02-16 | Largent Jessica Marie | Option exercise | 17K | — |
| 2025-02-16 | Haslam Alan Douglas | Option exercise | 14K | — |
| 2025-02-10 | Lyon Mckinsey Margaret | Option exercise | 11K | — |
| 2025-02-10 | Largent Jessica Marie | Option exercise | 14K | — |
| 2025-02-10 | Haslam Alan Douglas | Option exercise | 12K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-10 | Exec/director changeShareholder voteOtherExhibits | filing ↗ |
| 2026-06-01 | Other | filing ↗ |
| 2026-05-21 | Other | filing ↗ |
| 2026-04-22 | Material agreementExhibits | filing ↗ |
| 2026-04-09 | Reg FD | filing ↗ |
| 2026-03-05 | Material agreementExhibits | filing ↗ |
| 2026-02-23 | ResultsReg FDExhibits | filing ↗ |
| 2025-12-22 | Material agreementExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-10 | 2026-06-04 | 0001104659-26-072399 ↗ |
| 8-K | 2026-06-01 | 2026-06-01 | 0001104659-26-068574 ↗ |
| 8-K | 2026-05-21 | 2026-05-21 | 0001104659-26-065145 ↗ |
| 10-Q | 2026-05-11 | 2026-03-31 | 0001104659-26-058253 ↗ |
| 8-K | 2026-04-22 | 2026-04-16 | 0001104659-26-046859 ↗ |
| 8-K | 2026-04-09 | 2026-04-09 | 0001104659-26-041230 ↗ |
| 10-K | 2026-03-31 | 2025-12-31 | 0001104659-26-037403 ↗ |
| 8-K | 2026-03-05 | 2026-02-28 | 0001104659-26-024122 ↗ |
| 8-K | 2026-02-23 | 2026-02-23 | 0001104659-26-018359 ↗ |
| 8-K | 2025-12-22 | 2025-12-18 | 0001104659-25-123538 ↗ |
| 8-K | 2025-12-16 | 2025-12-09 | 0001104659-25-121391 ↗ |
| 8-K | 2025-12-05 | 2025-12-01 | 0001104659-25-118649 ↗ |