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

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

Analyst Ratings Changes

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

Perpetua Resources Trading Up 1.9 %

The firm has a market capitalization of $757.13 million, a P/E ratio of -49.09 and a beta of 0.22. The company has a 50 day simple moving average of $9.65 and a two-hundred day simple moving average of $7.92.

Insider Buying and Selling

In related news, insider Alan Douglas Haslam sold 40,000 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 65,571 shares of the company’s stock, valued at approximately $660,299.97. This trade represents a 37.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Perpetua Resources

Institutional investors have recently bought and sold shares of the business. Continuum Advisory LLC lifted 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 during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Perpetua Resources in the 1st quarter valued at approximately $51,000. Flaharty Asset Management LLC bought a new stake in shares of Perpetua Resources in the 2nd quarter valued at approximately $70,000. Intech Investment Management LLC bought a new stake in shares of Perpetua Resources in the 3rd quarter valued at approximately $98,000. Finally, Quantbot Technologies LP bought a new stake in shares of Perpetua Resources in the 3rd quarter valued at approximately $123,000. 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.