Perpetua Resources (NASDAQ:PPTA) Shares Down 3.7% – Should You Sell?

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

Analyst Ratings Changes

A number of research firms have weighed in on PPTA. HC Wainwright increased their target price on Perpetua Resources from $13.25 to $22.00 and gave the company a “buy” rating in a report on Friday, November 15th. Roth Mkm upped their target price on shares of Perpetua Resources from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, National Bank Financial assumed coverage on shares of Perpetua Resources in a research note on Friday, September 6th. They set an “outperform” rating on the stock.

Perpetua Resources Stock Up 1.6 %

The company has a 50 day simple moving average of $9.51 and a two-hundred day simple moving average of $7.65. The company has a market capitalization of $652.62 million, a P/E ratio of -44.45 and a beta of 0.27.

Insider Transactions at Perpetua Resources

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PPTA. Continuum Advisory LLC increased 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 purchasing an additional 4,000 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of Perpetua Resources in the first quarter valued at approximately $51,000. Flaharty Asset Management LLC acquired a new position in shares of Perpetua Resources during the 2nd quarter worth approximately $70,000. Intech Investment Management LLC purchased a new position in shares of Perpetua Resources during the 3rd quarter valued at approximately $98,000. Finally, Quantbot Technologies LP acquired a new stake in Perpetua Resources in the 3rd quarter valued at $123,000. 70.07% of the stock is currently owned by hedge funds and other institutional investors.

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.