Perpetua Resources (NASDAQ:PPTA) Shares Gap Down - What's Next?

Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) shares 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 trading hands.

Wall Street Analysts Forecast Growth

PPTA has been the subject of several research analyst reports. National Bank Financial began coverage on shares of Perpetua Resources in a research note on Friday, September 6th. They set an "outperform" rating for the company. HC Wainwright raised their target price on Perpetua Resources from $13.25 to $22.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Roth Mkm lifted their price objective on Perpetua Resources from $12.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd.

Perpetua Resources Stock Performance

The business's 50 day moving average is $9.43 and its two-hundred day moving average is $7.59. The firm has a market capitalization of $637.07 million, a PE ratio of -43.50 and a beta of 0.27.

Insider Transactions at Perpetua Resources

In other 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 value of $402,800.00. Following the sale, the insider now directly owns 65,571 shares of the company's stock, valued at approximately $660,299.97. This represents a 37.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On Perpetua Resources

Several hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of Perpetua Resources by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 484,829 shares of the company's stock valued at $4,533,000 after purchasing an additional 2,252 shares in the last quarter. Jane Street Group LLC boosted its stake in Perpetua Resources by 4.3% during the third quarter. Jane Street Group LLC now owns 63,527 shares of the company's stock valued at $597,000 after buying an additional 2,605 shares during the period. Continuum Advisory LLC grew its position in Perpetua Resources by 500.0% during 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. Russell Investments Group Ltd. increased its stake in Perpetua Resources by 1.6% in the 1st quarter. Russell Investments Group Ltd. now owns 581,600 shares of the company's stock worth $2,419,000 after acquiring an additional 8,985 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Perpetua Resources in the 3rd quarter valued at about $98,000. Hedge funds and other institutional investors 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.