Perpetua Resources (NASDAQ:PPTA) Stock Price Down 9.3% – Should You Sell?

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) dropped 9.3% on Monday . The company traded as low as $10.95 and last traded at $10.98. Approximately 646,136 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 1,057,502 shares. The stock had previously closed at $12.10.

Analyst Upgrades and Downgrades

PPTA has been the topic of a number of analyst reports. Roth Mkm increased their price objective on shares of Perpetua Resources from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. HC Wainwright increased their price objective on shares of Perpetua Resources from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th.

Perpetua Resources Stock Performance

The firm has a market cap of $801.04 million, a price-to-earnings ratio of -51.82 and a beta of 0.19. The stock’s fifty day moving average is $10.87 and its two-hundred day moving average is $9.05.

Insider Buying and Selling at Perpetua Resources

In other Perpetua Resources news, insider Alan Douglas Haslam sold 40,000 shares of the firm’s stock in a transaction dated 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 owns 65,571 shares of the company’s stock, valued at approximately $660,299.97. This trade represents a 37.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Perpetua Resources

Hedge funds have recently made changes to their positions in the business. Continuum Advisory LLC grew its stake in shares of Perpetua Resources by 500.0% in 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. Intech Investment Management LLC acquired a new position in shares of Perpetua Resources in the 3rd quarter worth approximately $98,000. Quantbot Technologies LP acquired a new position in shares of Perpetua Resources in the 3rd quarter worth approximately $123,000. American Century Companies Inc. acquired a new position in shares of Perpetua Resources in the 2nd quarter worth approximately $124,000. Finally, SG Americas Securities LLC acquired a new position in shares of Perpetua Resources in the 3rd quarter worth approximately $125,000. 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.