Perpetua Resources (NASDAQ:PPTA) Trading Down 14.4% – Here’s What Happened

Perpetua Resources Corp. (NASDAQ:PPTA)’s share price dropped 14.4% during trading on Friday . The stock traded as low as $9.37 and last traded at $9.59. Approximately 553,464 shares changed hands during mid-day trading, an increase of 3% from the average daily volume of 538,477 shares. The stock had previously closed at $11.20.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PPTA shares. HC Wainwright increased their price objective on shares of Perpetua Resources from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, March 21st. National Bank Financial upgraded shares of Perpetua Resources to a “strong-buy” rating in a research report on Friday, March 21st. Finally, Roth Mkm lifted their price objective on Perpetua Resources from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th.

Perpetua Resources Stock Performance

The business has a 50-day moving average of $10.33 and a 200 day moving average of $10.42. The stock has a market cap of $657.37 million, a PE ratio of -42.32 and a beta of 0.12.

Perpetua Resources (NASDAQ:PPTA) last issued its quarterly earnings results on Wednesday, March 19th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. Equities analysts expect that Perpetua Resources Corp. will post -0.21 EPS for the current fiscal year.

Insider Buying and Selling at Perpetua Resources

In related news, Director Andrew Phillip Cole purchased 9,450 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was purchased at an average price of $7.99 per share, with a total value of $75,505.50. Following the completion of the transaction, the director now owns 9,450 shares of the company’s stock, valued at approximately $75,505.50. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alan Douglas Haslam sold 10,400 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $9.24, for a total transaction of $96,096.00. Following the transaction, the insider now directly owns 65,763 shares in the company, valued at approximately $607,650.12. This represents a 13.65 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders acquired 20,230 shares of company stock worth $166,582 and sold 53,110 shares worth $516,398. 1.90% of the stock is currently owned by insiders.

Institutional Trading of Perpetua Resources

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of Montreal Can grew its position in Perpetua Resources by 1.6% during the fourth quarter. Bank of Montreal Can now owns 67,594 shares of the company’s stock valued at $721,000 after acquiring an additional 1,054 shares during the period. Geode Capital Management LLC grew its holdings in shares of Perpetua Resources by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 484,829 shares of the company’s stock worth $4,533,000 after purchasing an additional 2,252 shares during the period. Jane Street Group LLC increased its position in Perpetua Resources by 4.3% during the 3rd 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 in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Perpetua Resources by 24.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,722 shares of the company’s stock valued at $168,000 after buying an additional 3,067 shares during the period. Finally, Lane & Associates LLC raised its holdings in Perpetua Resources by 24.0% in the fourth quarter. Lane & Associates LLC now owns 15,987 shares of the company’s stock valued at $189,000 after buying an additional 3,095 shares during the period. 70.07% of the stock is currently owned by institutional investors and hedge funds.

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.