Perpetua Resources (NASDAQ:PPTA) Trading Down 14.4% – What’s Next?

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

Wall Street Analyst Weigh In

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

Perpetua Resources Price Performance

The stock has a 50-day moving average price of $10.33 and a 200-day moving average price of $10.42. The firm has a market capitalization of $657.37 million, a PE ratio of -42.32 and a beta of 0.12.

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

Insider Buying and Selling

In other news, Director Robert Alan Dean bought 5,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was bought at an average price of $8.32 per share, for a total transaction of $41,600.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $83,200. The trade was a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Alan Douglas Haslam sold 10,400 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $9.24, for a total value of $96,096.00. Following the sale, the insider now directly owns 65,763 shares in the company, valued at approximately $607,650.12. This represents a 13.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 20,230 shares of company stock worth $166,582 and sold 53,110 shares worth $516,398. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Perpetua Resources

A number of hedge funds have recently added to or reduced their stakes in the business. Polar Asset Management Partners Inc. bought a new position in shares of Perpetua Resources in the 4th quarter worth about $1,937,000. Squarepoint Ops LLC lifted its holdings in Perpetua Resources by 222.4% in the fourth quarter. Squarepoint Ops LLC now owns 246,029 shares of the company’s stock worth $2,625,000 after acquiring an additional 169,713 shares during the last quarter. Tidal Investments LLC acquired a new position in Perpetua Resources in the fourth quarter valued at approximately $143,000. ProShare Advisors LLC bought a new position in shares of Perpetua Resources during the fourth quarter valued at approximately $116,000. Finally, Millennium Management LLC raised its position in shares of Perpetua Resources by 226.7% during the 4th quarter. Millennium Management LLC now owns 370,536 shares of the company’s stock worth $3,954,000 after purchasing an additional 257,130 shares during the period. Institutional investors and hedge funds own 70.07% of the company’s stock.

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.