Perpetua Resources (NASDAQ:PPTA) Trading Down 7.8% - Time to Sell?

Shares of Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) were down 7.8% during mid-day trading on Monday . The company traded as low as $11.31 and last traded at $11.37. Approximately 191,674 shares traded hands during trading, a decline of 42% from the average daily volume of 329,207 shares. The stock had previously closed at $12.33.

Wall Street Analysts Forecast Growth

PPTA has been the topic of several recent analyst reports. Roth Mkm restated a "buy" rating and set a $15.00 price objective on shares of Perpetua Resources in a report on Thursday, December 12th. HC Wainwright lifted their target price on Perpetua Resources from $13.25 to $22.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Finally, National Bank Financial began coverage on shares of Perpetua Resources in a report on Friday, September 6th. They issued an "outperform" rating on the stock.

Perpetua Resources Stock Down 13.4 %

The stock's 50-day moving average price is $10.36 and its 200 day moving average price is $8.44. The firm has a market capitalization of $749.37 million, a price-to-earnings ratio of -48.55 and a beta of 0.22.

Insider Activity

In other Perpetua Resources news, insider Alan Douglas Haslam sold 40,000 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $10.07, for a total transaction of $402,800.00. Following the completion of the transaction, 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 filing with the SEC, which is available through the SEC website. Corporate insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On Perpetua Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of PPTA. Fourth Sail Capital LP acquired a new stake in Perpetua Resources during the 3rd quarter worth approximately $10,405,000. Herr Investment Group LLC increased its holdings in Perpetua Resources by 5.8% during the 2nd quarter. Herr Investment Group LLC now owns 1,450,498 shares of the company's stock worth $7,543,000 after purchasing an additional 80,000 shares during the period. State Street Corp raised its position in Perpetua Resources by 8.8% in the 3rd quarter. State Street Corp now owns 593,502 shares of the company's stock valued at $5,549,000 after purchasing an additional 48,220 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Perpetua Resources in the 2nd quarter valued at about $197,000. Finally, Barclays PLC grew its position in shares of Perpetua Resources by 63.4% during the third quarter. Barclays PLC now owns 74,119 shares of the company's stock worth $694,000 after buying an additional 28,746 shares in the last quarter. 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.