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

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on PPTA shares. HC Wainwright boosted their target price on Perpetua Resources from $13.25 to $22.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. National Bank Financial started coverage on Perpetua Resources in a report on Friday, September 6th. They issued an “outperform” rating for the company. Finally, Roth Mkm boosted their price target 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 company has a market capitalization of $608.55 million, a price-to-earnings ratio of -43.32 and a beta of 0.27. The stock has a fifty day moving average price of $9.61 and a two-hundred day moving average price of $7.86.

Insider Activity at Perpetua Resources

In other Perpetua Resources 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Perpetua Resources

Institutional investors and hedge funds have recently modified their holdings of the stock. Fourth Sail Capital LP purchased a new stake in shares of Perpetua Resources in the third quarter worth about $10,405,000. Herr Investment Group LLC lifted its holdings in shares of Perpetua Resources by 5.8% in the 2nd quarter. Herr Investment Group LLC now owns 1,450,498 shares of the company’s stock worth $7,543,000 after purchasing an additional 80,000 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Perpetua Resources in the 1st quarter worth approximately $51,000. American Century Companies Inc. bought a new stake in Perpetua Resources during the 2nd quarter valued at $124,000. Finally, Marshall Wace LLP bought a new stake in Perpetua Resources during the 2nd quarter valued at $197,000. Hedge funds and other institutional investors 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.