Perpetua Resources (NASDAQ:PPTA) Shares Down 3.7% – What’s Next?

Perpetua Resources Corp. (NASDAQ:PPTA)’s share price dropped 3.7% during trading on Wednesday . The company traded as low as $9.48 and last traded at $9.51. Approximately 37,904 shares traded hands during trading, a decline of 86% from the average daily volume of 270,406 shares. The stock had previously closed at $9.88.

Analysts Set New Price Targets

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

Perpetua Resources Stock Performance

The stock has a market capitalization of $652.62 million, a price-to-earnings ratio of -44.45 and a beta of 0.27. The company has a fifty day simple moving average of $9.51 and a 200 day simple moving average of $7.65.

Insider Activity

In related news, insider Alan Douglas Haslam sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $10.07, for a total value of $402,800.00. Following the transaction, the insider now owns 65,571 shares in the company, valued at approximately $660,299.97. This represents a 37.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in Perpetua Resources by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 484,829 shares of the company’s stock valued at $4,533,000 after acquiring an additional 2,252 shares during the period. Jane Street Group LLC boosted its holdings in shares of Perpetua Resources by 4.3% during the third quarter. Jane Street Group LLC now owns 63,527 shares of the company’s stock worth $597,000 after purchasing an additional 2,605 shares during the period. Continuum Advisory LLC grew its stake in shares of Perpetua Resources by 500.0% in the third 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. Russell Investments Group Ltd. raised its position in 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 purchasing an additional 8,985 shares during the last quarter. Finally, Virtu Financial LLC increased its stake in shares of Perpetua Resources by 43.6% during the third quarter. Virtu Financial LLC now owns 34,478 shares of the company’s stock valued at $322,000 after buying an additional 10,463 shares during the period. 70.07% of the stock is 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.