Perpetua Resources (NASDAQ:PPTA) Trading Down 9.2% – Should You Sell?

Perpetua Resources Corp. (NASDAQ:PPTA) traded down 9.2% on Friday . The company traded as low as $9.45 and last traded at $9.49. 472,102 shares traded hands during trading, an increase of 83% from the average session volume of 258,226 shares. The stock had previously closed at $10.45.

Analysts Set New Price Targets

PPTA has been the topic of several research analyst reports. Roth Mkm upped their price objective on Perpetua Resources from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. National Bank Financial started coverage on Perpetua Resources in a research note on Friday, September 6th. They set an “outperform” rating on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $13.25 price objective on shares of Perpetua Resources in a report on Thursday, August 22nd.

Perpetua Resources Stock Down 9.4 %

The firm has a market capitalization of $630.42 million, a price-to-earnings ratio of -45.19 and a beta of 0.27. The firm has a 50 day moving average of $9.32 and a two-hundred day moving average of $7.39.

Perpetua Resources (NASDAQ:PPTA) last released its quarterly earnings results on Friday, August 9th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. Sell-side analysts forecast that Perpetua Resources Corp. will post -0.21 EPS for the current fiscal year.

Insider Activity at Perpetua Resources

In other news, insider Alan Douglas Haslam sold 40,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $10.07, for a total transaction of $402,800.00. Following the completion of the transaction, the insider now directly owns 65,571 shares in the company, valued at $660,299.97. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Perpetua Resources

Hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its stake in Perpetua Resources by 1.6% in the first quarter. Russell Investments Group Ltd. now owns 581,600 shares of the company’s stock valued at $2,419,000 after buying an additional 8,985 shares during the period. Price T Rowe Associates Inc. MD bought a new position in Perpetua Resources in the 1st quarter valued at $51,000. Flaharty Asset Management LLC bought a new position in Perpetua Resources during the second quarter valued at about $70,000. SG Americas Securities LLC bought a new position in shares of Perpetua Resources during the 3rd quarter valued at approximately $125,000. Finally, National Bank of Canada FI increased its position in Perpetua Resources by 37.5% in the second quarter. National Bank of Canada FI now owns 55,000 shares of the company’s stock worth $281,000 after buying an additional 15,000 shares during the last quarter. Institutional investors and hedge funds own 70.07% of the company’s stock.

About Perpetua Resources

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.