Perpetua Resources (NASDAQ:PPTA) Stock Price Down 5.8% – Time to Sell?

Perpetua Resources Corp. (NASDAQ:PPTA) shares fell 5.8% during trading on Monday . The company traded as low as $8.93 and last traded at $8.98. 247,768 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 274,272 shares. The stock had previously closed at $9.53.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. HC Wainwright lifted their target price on Perpetua Resources from $13.25 to $22.00 and gave the stock a “buy” rating in a report on Friday, November 15th. National Bank Financial assumed coverage on Perpetua Resources in a report on Friday, September 6th. They issued an “outperform” rating on the stock. Finally, Roth Mkm lifted their target price on Perpetua Resources from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd.

Perpetua Resources Stock Down 4.3 %

The stock has a market cap of $608.55 million, a price-to-earnings ratio of -43.32 and a beta of 0.27. The business has a 50-day moving average of $9.61 and a 200-day moving average of $7.86.

Insider Activity at Perpetua Resources

In related news, insider Alan Douglas Haslam sold 40,000 shares of the business’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 owns 65,571 shares of the company’s stock, valued at approximately $660,299.97. The trade was a 37.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Perpetua Resources

Several large investors have recently made changes to their positions in PPTA. Continuum Advisory LLC lifted its position in shares of Perpetua Resources by 500.0% during the 3rd quarter. Continuum Advisory LLC now owns 4,800 shares of the company’s stock worth $44,000 after purchasing an additional 4,000 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in Perpetua Resources during the first quarter valued at about $51,000. Flaharty Asset Management LLC bought a new position in Perpetua Resources during the second quarter valued at about $70,000. Intech Investment Management LLC bought a new position in Perpetua Resources during the third quarter valued at about $98,000. Finally, Quantbot Technologies LP bought a new position in Perpetua Resources during the third quarter valued at about $123,000. Institutional investors and hedge funds own 70.07% of the company’s stock.

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.