Perpetua Resources Corp (PPTA) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Perpetua Resources Corp stock $5.16, price $19.53, that is 73.6% below the price, quality 35 out of 100. Rating: strongly overvalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.
Perpetua Resources Corp., a development-stage company, engages in the acquisition of mining properties in the United States. The company explores gold, silver, and antimony deposits.
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Its principal mineral project is the 100% owned Stibnite Gold project, which includes 1,674 unpatented lode claims, mill sites, and patented land holdings covering an area of approximately 11,526 hectares 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 founded in 2009 and is headquartered in Boise, Idaho.
Stock analysis
Perpetua Resources Corp (PPTA) currently trades at $19.53, while our model-based Fair Value estimate is $5.16, 74% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.
Scenario range: $3.41 (bear) to $6.45 (bull), the price of $19.53 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 35/100 (below-average quality), in the Basic Materials sector.
Perpetua Resources Corp reported revenue of $0 in FY2025 versus $0 in FY2021. Reported net income was −$100M in FY2025.
Key figures
Market cap $2.4B Mid · EPS (TTM) $−2.02 · Return on equity −37.8% · Return on assets (EBIT) −32.8% (5-year average) · Free cash flow −$118M · Net cash $773M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 10 out of 100 (low confidence).
What moves the price
The share trades about 48% below its 52-week high and 22% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −4% fair-value upside, at −74%, PPTA screens richer than that median.
Fair Value models
Bear$3.41Fair Value $5.16Bull$6.45
Price $19.53 · Downside -73.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
NCAV (Graham)$4.01$6.07$7.5954
All 1 models by family
Asset-Based
NCAV (Graham)$4.01$6.07$7.5954
The fair value above starts from this blend and is adjusted for dilution from new shares.
In the last 6 months, no officer or director bought or sold shares on the open market.
SaleMckinsey Margaret LyonOfficer3× since Jan 5, 2026: 84,911 shares, avg. $27.41$2.3MApr 2, 2026
SaleJonathan CherryOfficer, Director4,079 shares at $29.31$119,555Apr 2, 2026
SaleAlexander McLeod SternhellDirector13,148 shares at $27.09$356,192Jan 7, 2026
SaleRobert Alan DeanDirector2× since Dec 23, 2025: 17,198 shares, avg. $26.89$462,420Jan 6, 2026
SaleJeffrey L MalmenDirector15,181 shares at $26.42$401,018Jan 6, 2026
SaleChris J RobisonDirector13,701 shares at $26.32$360,669Jan 6, 2026
Plus one other filing such as a grant, option exercise or tax withholding. It is not a market purchase or sale.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
News mood ⓘNews mood, the average tone of recent news (98 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: The pre-revenue mining firm shows early construction progress and extended drilling results yet remains limited by zero revenue and sustained negative cash flows.
Main risk: The main risk is the need to close major financing to move beyond early construction, which would directly delay or block the path to commercial production.
Perpetua has shifted into early construction on the Burntlog access road and worker housing at Stibnite while its drill program already exceeded the initial 10,000-meter target and uncovered additional tungsten mineralization. Our models see the shares as overvalued given the remaining steps to close major financing and reach production. Will the gold reserves or the critical minerals potential set the real pace of value creation?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Other Precious Metals & Mining · 101 stocks
Beats the industry median on 1/7 measures
Overall it trails its industry peers.
Valuation
Quality Score35 · Below median
Fair Value upside−73.6% · Below median
Profitability
Return on assets−11.4% · Below median
Operating margin (12 months)0.0% · Below median
Growth and dividend
Revenue growth (quarter YoY)0.0% · Below median
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Other Precious Metals & Mining median · lower = cheaper
P/B2.84× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)0· sector 79
PAST (return on equity)0· sector 0
HEALTH (low debt)99· sector 98
DIVIDEND (yield)0· sector 58
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Perpetua Resources Corp (PPTA) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of $5.16 versus a price of $19.53, about 74% lower (overvalued).
What is the fair value of PPTA?
Our model-based fair value for Perpetua Resources Corp is $5.16 (as of Nov 8, 2026), built from audited fundamentals. The current price: $19.53.
What is the quality score of PPTA?
Perpetua Resources Corp has a Quality Score of 35/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Perpetua Resources Corp (PPTA)?
Our model-based price target is the fair value of $5.16 (as of Nov 8, 2026) from 1 valuation models. Cautious scenario $3.41, optimistic scenario $6.45. It is a calculation from audited fundamentals, not an analyst target.
What is the Perpetua Resources Corp stock forecast for 2026?
Our models put fair value at $5.16, about 74% lower versus a price of $19.53 (overvalued). Cautious scenario $3.41, optimistic scenario $6.45. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Perpetua Resources Corp (PPTA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Perpetua Resources Corp it is $5.16 per share (as of Nov 8, 2026), against a price of $19.53. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Perpetua Resources Corp stock overvalued or undervalued in 2026?
As of Nov 8, 2026, PPTA trades above its calculated fair value: price $19.53, fair value $5.16, a gap of about −74% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of PPTA?
No. The price is what the market pays today ($19.53); the fair value is what the company's own numbers justify ($5.16). For Perpetua Resources Corp the two are $14.37 per share apart. That gap is exactly why we show both numbers side by side.
How much is Perpetua Resources Corp worth?
The market values Perpetua Resources Corp at about $2.4B (market capitalisation, as of Nov 8, 2026). Per share that is $19.53; our models calculate a fair value of $5.16 per share.
What do the bullish and bearish scenarios say about PPTA?
Our models span a range for Perpetua Resources Corp: cautious scenario $3.41, base $5.16, optimistic $6.45 per share (as of Nov 8, 2026, price $19.53). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Perpetua Resources Corp (PPTA)?
Balance-sheet figures for Perpetua Resources Corp (as of Nov 8, 2026): return on equity −37.8%, debt of 0.01 per unit of equity. They feed the Quality Score of 35/100, which measures business quality independently of the share price.
How far is PPTA from its 52-week high?
Perpetua Resources Corp trades at $19.53, about 48% below its 52-week high of $37.22 and 22% above the low of $16.07 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $5.16 is for.
Which stocks are comparable to Perpetua Resources Corp?
From the same area (Basic Materials) we also value PT Amman Mineral Internasional Tbk, Hecla Mining Company, China Gold International Resources Corp, Compañía de Minas Buenaventura S.A., among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Perpetua Resources Corp stock attractive at the current price?
The data as of Nov 8, 2026: price $19.53, calculated fair value $5.16 (−74%), Quality Score 35/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of PPTA calculated?
We run Perpetua Resources Corp through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of $5.16 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Perpetua Resources Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Perpetua Resources Corp (PPTA)?
The closing price on Nov 6, 2026 was $19.53. Our model-based fair value is $5.16, about 74% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Perpetua Resources Corp right now?
The price sits above even our optimistic bull case ($6.45). The favourable scenario is already priced in. Weak quality (35/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range ($3.41 to $6.45) leaves room in how you read the outcome.
Key figures of Perpetua Resources Corp
How large is the market capitalisation of Perpetua Resources Corp (PPTA)?
The market capitalisation of Perpetua Resources Corp is $2.4B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of Perpetua Resources Corp (PPTA)?
Earnings per share at Perpetua Resources Corp are $−2.02. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Perpetua Resources Corp (PPTA)?
The return on equity (ROE) of Perpetua Resources Corp is −37.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Perpetua Resources Corp (PPTA)?
On an EBIT basis the return on assets of Perpetua Resources Corp is −32.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
How much free cash flow does Perpetua Resources Corp (PPTA) generate?
The free cash flow of Perpetua Resources Corp is −$118M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Perpetua Resources Corp (PPTA) hold?
Perpetua Resources Corp holds more cash than debt, $773M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 8, 2026
