Perpetua Resources (NASDAQ:PPTA) Stock Price Down 9.7%

Perpetua Resources Corp. (NASDAQ:PPTA) dropped 9.7% on Tuesday . The company traded as low as $8.01 and last traded at $8.04. Approximately 117,969 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 206,918 shares. The stock had previously closed at $8.90.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and set a $13.25 target price on shares of Perpetua Resources in a research note on Thursday, August 22nd.

Perpetua Resources Trading Up 11.5 %

The firm has a fifty day moving average of $6.79 and a 200 day moving average of $5.77. The company has a market capitalization of $582.69 million, a P/E ratio of -33.41 and a beta of 0.28.

Perpetua Resources (NASDAQ:PPTA) last issued its earnings results on Friday, August 9th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. Sell-side analysts anticipate that Perpetua Resources Corp. will post -0.21 EPS for the current fiscal year.

Institutional Trading of Perpetua Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. M&G Plc purchased a new stake in shares of Perpetua Resources in the 1st quarter worth $805,000. National Bank of Canada FI bought a new position in shares of Perpetua Resources in the fourth quarter worth about $148,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Perpetua Resources during the 1st quarter valued at about $51,000. Russell Investments Group Ltd. grew its stake 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 period. Finally, B. Riley Financial Inc. increased its holdings in Perpetua Resources by 1.6% in the 4th quarter. B. Riley Financial Inc. now owns 1,489,903 shares of the company’s stock worth $4,723,000 after acquiring an additional 24,152 shares in the last quarter. 70.07% of the stock is owned by hedge funds and other 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.