Perpetua Resources (NASDAQ:PPTA) Shares Gap Down – What’s Next?

Perpetua Resources Corp. (NASDAQ:PPTA)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $10.60, but opened at $10.00. Perpetua Resources shares last traded at $9.73, with a volume of 360,377 shares.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PPTA. National Bank Financial started coverage on shares of Perpetua Resources in a research report on Friday, September 6th. They set an “outperform” rating for the company. Roth Mkm raised their target price on Perpetua Resources from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, HC Wainwright upped their price target on 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 Stock Performance

The company has a market cap of $657.70 million, a P/E ratio of -44.91 and a beta of 0.27. The firm’s fifty day moving average is $9.47 and its two-hundred day moving average is $7.62.

Insider Activity

In related news, insider Alan Douglas Haslam sold 40,000 shares of Perpetua Resources stock in a transaction that occurred on 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 approximately $660,299.97. This trade represents a 37.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Continuum Advisory LLC lifted its holdings in shares of Perpetua Resources by 500.0% in the third quarter. Continuum Advisory LLC now owns 4,800 shares of the company’s stock worth $44,000 after buying an additional 4,000 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Perpetua Resources in the 1st quarter valued at $51,000. Flaharty Asset Management LLC purchased a new stake in Perpetua Resources in the 2nd quarter worth $70,000. Intech Investment Management LLC bought a new position in shares of Perpetua Resources during the 3rd quarter valued at about $98,000. Finally, Quantbot Technologies LP purchased a new position in shares of Perpetua Resources during the third quarter valued at about $123,000. 70.07% of the stock is currently owned by 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.