Perpetua Resources (NASDAQ:PPTA) Shares Gap Down – Should You Sell?

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) gapped down before the market opened on Monday . The stock had previously closed at $10.60, but opened at $10.00. Perpetua Resources shares last traded at $9.73, with a volume of 360,377 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PPTA shares. Roth Mkm increased their price objective on Perpetua Resources from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. HC Wainwright boosted their target price on Perpetua Resources from $13.25 to $22.00 and gave the company a “buy” rating in a report on Friday. Finally, National Bank Financial began coverage on Perpetua Resources in a research report on Friday, September 6th. They set an “outperform” rating for the company.

Perpetua Resources Stock Down 6.2 %

The firm’s 50 day simple moving average is $9.41 and its 200-day simple moving average is $7.56. The company has a market capitalization of $661.71 million, a PE ratio of -44.32 and a beta of 0.27.

Insider Activity at Perpetua Resources

In other news, insider Alan Douglas Haslam sold 40,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $10.07, for a total transaction of $402,800.00. Following the transaction, the insider now directly owns 65,571 shares of the company’s stock, valued at approximately $660,299.97. The trade was a 37.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Continuum Advisory LLC lifted its holdings in Perpetua Resources by 500.0% in the third quarter. Continuum Advisory LLC now owns 4,800 shares of the company’s stock worth $44,000 after acquiring an additional 4,000 shares during the last quarter. Intech Investment Management LLC bought a new position in Perpetua Resources during the 3rd quarter worth $98,000. Price T Rowe Associates Inc. MD acquired a new stake in Perpetua Resources in the first quarter worth $51,000. Quantbot Technologies LP bought a new stake in Perpetua Resources in the third quarter valued at $123,000. Finally, Flaharty Asset Management LLC acquired a new position in Perpetua Resources during the 2nd quarter valued at about $70,000. 70.07% of the stock is owned by institutional investors and hedge funds.

Perpetua Resources Company Profile

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.