Perpetua Resources (NASDAQ:PPTA) Shares Gap Down – What’s Next?

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 changing hands.

Wall Street Analysts Forecast Growth

PPTA has been the subject of a number of research analyst reports. Roth Mkm raised their price objective on shares of Perpetua Resources from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. 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. Finally, National Bank Financial initiated coverage on shares of Perpetua Resources in a research note on Friday, September 6th. They issued an “outperform” rating for the company.

Perpetua Resources Price Performance

The firm has a market capitalization of $661.71 million, a P/E ratio of -44.32 and a beta of 0.27. The business has a 50 day moving average price of $9.41 and a 200 day moving average price of $7.56.

Insider Transactions at Perpetua Resources

In related news, insider Alan Douglas Haslam sold 40,000 shares of Perpetua Resources stock in a transaction on 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 directly owns 65,571 shares of the company’s stock, valued at $660,299.97. The trade was a 37.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PPTA. Continuum Advisory LLC grew its holdings 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 valued at $44,000 after acquiring an additional 4,000 shares in the last quarter. Intech Investment Management LLC bought a new stake in Perpetua Resources in the 3rd quarter valued at $98,000. Price T Rowe Associates Inc. MD acquired a new stake in Perpetua Resources during the 1st quarter valued at $51,000. Quantbot Technologies LP bought a new position in Perpetua Resources during the third quarter worth $123,000. Finally, Flaharty Asset Management LLC bought a new position in shares of Perpetua Resources in the second quarter valued at about $70,000. 70.07% of the stock is currently owned by institutional investors.

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.