Perpetua Resources (NASDAQ:PPTA) Stock Price Down 7.8% – Here’s What Happened

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) traded down 7.8% during mid-day trading on Monday . The stock traded as low as $11.31 and last traded at $11.37. 191,674 shares traded hands during trading, a decline of 42% from the average session volume of 329,207 shares. The stock had previously closed at $12.33.

Wall Street Analyst Weigh In

PPTA has been the subject of a number of recent analyst reports. Roth Mkm restated a “buy” rating and issued a $15.00 price objective on shares of Perpetua Resources in a research report on Thursday, December 12th. National Bank Financial assumed coverage on shares of Perpetua Resources in a report on Friday, September 6th. They set an “outperform” rating on the stock. Finally, HC Wainwright upped their price target on shares of Perpetua Resources from $13.25 to $22.00 and gave the stock a “buy” rating in a research report on Friday, November 15th.

Perpetua Resources Trading Down 12.6 %

The company has a fifty day moving average price of $10.36 and a two-hundred day moving average price of $8.43. The firm has a market capitalization of $756.39 million, a price-to-earnings ratio of -49.00 and a beta of 0.22.

Insider Transactions at Perpetua Resources

In other Perpetua Resources 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 value of $402,800.00. Following the sale, the insider now owns 65,571 shares in the company, valued at $660,299.97. The trade was 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 available through the SEC website. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Continuum Advisory LLC raised its stake 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 period. Intech Investment Management LLC purchased a new position in Perpetua Resources in the 3rd quarter valued at approximately $98,000. Quantbot Technologies LP acquired a new position in shares of Perpetua Resources in the third quarter worth $123,000. Flaharty Asset Management LLC purchased a new stake in shares of Perpetua Resources during the second quarter worth $70,000. Finally, SG Americas Securities LLC purchased a new stake in Perpetua Resources during the 3rd quarter worth about $125,000. Institutional investors and hedge funds own 70.07% of the company’s stock.

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.