Perpetua Resources (NASDAQ:PPTA) Trading Down 16.5% – What’s Next?

Perpetua Resources Corp. (NASDAQ:PPTA) shares were down 16.5% during trading on Friday . The stock traded as low as $10.45 and last traded at $10.00. Approximately 535,527 shares traded hands during trading, a decline of 27% from the average daily volume of 731,827 shares. The stock had previously closed at $11.97.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PPTA shares. HC Wainwright boosted their price target on Perpetua Resources from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Roth Mkm upped their target price on shares of Perpetua Resources from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th.

Perpetua Resources Price Performance

The firm has a 50-day simple moving average of $11.78 and a 200-day simple moving average of $9.96.

Institutional Investors Weigh In On Perpetua Resources

A number of hedge funds have recently modified their holdings of the business. Fourth Sail Capital LP purchased a new position in shares of Perpetua Resources during the 3rd quarter valued at about $10,405,000. Amundi purchased a new position in shares of Perpetua Resources in the fourth quarter worth $7,788,000. Cohen & Steers Inc. bought a new stake in Perpetua Resources in the 4th quarter valued at $2,729,000. Yaupon Capital Management LP bought a new stake in Perpetua Resources in the 4th quarter valued at $2,668,000. Finally, Ninety One UK Ltd purchased a new stake in Perpetua Resources in the 4th quarter worth $1,693,000. Institutional investors own 70.07% of the company’s stock.

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.