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

Perpetua Resources Corp. (NASDAQ:PPTA) shares fell 14.4% during mid-day trading on Friday . The stock traded as low as $9.37 and last traded at $9.59. 553,464 shares were traded during mid-day trading, an increase of 3% from the average session volume of 538,477 shares. The stock had previously closed at $11.20.

Wall Street Analysts Forecast Growth

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

Perpetua Resources Price Performance

The company’s fifty day moving average price is $10.40 and its 200-day moving average price is $10.41. The stock has a market cap of $656.31 million, a price-to-earnings ratio of -42.26 and a beta of 0.27.

Perpetua Resources (NASDAQ:PPTA) last posted its quarterly earnings data on Wednesday, March 19th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.03. On average, sell-side analysts forecast that Perpetua Resources Corp. will post -0.21 earnings per share for the current fiscal year.

Insider Activity

In other Perpetua Resources news, Director Robert Alan Dean acquired 5,000 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were purchased at an average price of $8.32 per share, for a total transaction of $41,600.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $83,200. The trade was a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mckinsey Margaret Lyon sold 22,710 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $8.82, for a total transaction of $200,302.20. Following the transaction, the insider now owns 89,154 shares of the company’s stock, valued at $786,338.28. This represents a 20.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have bought 20,230 shares of company stock valued at $166,582 and have sold 53,110 shares valued at $516,398. Corporate 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 PPTA. Ancora Advisors LLC acquired a new stake in shares of Perpetua Resources during the 4th quarter worth approximately $37,000. Continuum Advisory LLC grew its position in Perpetua Resources by 500.0% during the third quarter. Continuum Advisory LLC now owns 4,800 shares of the company’s stock valued at $44,000 after buying an additional 4,000 shares during the period. BNP Paribas Financial Markets acquired a new stake in Perpetua Resources during the fourth quarter valued at $55,000. Intech Investment Management LLC purchased a new position in Perpetua Resources in the third quarter valued at $98,000. Finally, ProShare Advisors LLC purchased a new stake in shares of Perpetua Resources during the 4th quarter worth about $116,000. 70.07% of the stock is owned by institutional investors and hedge funds.

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.