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

Perpetua Resources Corp. (NASDAQ:PPTA)’s share price 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

A number of analysts have recently weighed in on PPTA shares. 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 research report on Wednesday, October 23rd. National Bank Financial assumed coverage on Perpetua Resources in a research report on Friday, September 6th. They issued an “outperform” rating on the stock. Finally, HC Wainwright upped their price target on 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 Performance

The company has a market capitalization of $657.70 million, a PE ratio of -44.91 and a beta of 0.27. The company’s 50-day moving average is $9.47 and its 200 day moving average is $7.62.

Insider Activity

In other news, insider Alan Douglas Haslam sold 40,000 shares of the company’s 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 transaction, the insider now directly owns 65,571 shares of the company’s stock, valued at $660,299.97. This represents a 37.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Perpetua Resources

Large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its holdings in shares of Perpetua Resources by 1.6% during the 1st quarter. Russell Investments Group Ltd. now owns 581,600 shares of the company’s stock valued at $2,419,000 after acquiring an additional 8,985 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in Perpetua Resources in the first quarter worth approximately $51,000. Bank of New York Mellon Corp grew its position in Perpetua Resources by 20.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 107,551 shares of the company’s stock worth $559,000 after purchasing an additional 17,954 shares during the period. Flaharty Asset Management LLC purchased a new stake in Perpetua Resources during the 2nd quarter valued at $70,000. Finally, Rhumbline Advisers lifted its holdings in shares of Perpetua Resources by 51.0% during the 2nd quarter. Rhumbline Advisers now owns 49,450 shares of the company’s stock valued at $257,000 after buying an additional 16,698 shares during the period. 70.07% of the stock is currently owned by institutional investors.

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.