Perpetua Resources (NASDAQ:PPTA) Trading Down 3.7% – Time to Sell?

Perpetua Resources Corp. (NASDAQ:PPTA) fell 3.7% during trading on Wednesday . The stock traded as low as $9.48 and last traded at $9.51. 37,904 shares were traded during trading, a decline of 86% from the average session volume of 270,406 shares. The stock had previously closed at $9.88.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PPTA. National Bank Financial started coverage on shares of Perpetua Resources in a research note on Friday, September 6th. They set an “outperform” rating on the stock. Roth Mkm raised 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. Finally, HC Wainwright raised their price target on shares of Perpetua Resources from $13.25 to $22.00 and gave the stock a “buy” rating in a research note on Friday, November 15th.

Perpetua Resources Stock Down 2.7 %

The stock has a market capitalization of $639.73 million, a P/E ratio of -44.91 and a beta of 0.27. The firm has a fifty day moving average price of $9.47 and a two-hundred day moving average price of $7.62.

Insider Buying and Selling

In other Perpetua Resources news, insider Alan Douglas Haslam sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $10.07, for a total value of $402,800.00. Following the completion of the sale, the insider now directly owns 65,571 shares in the company, valued at $660,299.97. This trade represents a 37.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is owned by company insiders.

Institutional Trading of Perpetua Resources

Hedge funds have recently bought and sold shares of the business. Continuum Advisory LLC boosted its stake 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 acquiring an additional 4,000 shares in the last quarter. Intech Investment Management LLC bought a new position in Perpetua Resources during the third quarter worth $98,000. Price T Rowe Associates Inc. MD bought a new stake in Perpetua Resources in the 1st quarter valued at about $51,000. Quantbot Technologies LP bought a new position in Perpetua Resources during the 3rd quarter valued at $123,000. Finally, Flaharty Asset Management LLC acquired a new stake in shares of Perpetua Resources during the 2nd quarter valued at $70,000. 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.