Perpetua Resources (NASDAQ:PPTA) Stock Price Down 9.3% - What's Next?

Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report)'s stock price dropped 9.3% on Monday . The company traded as low as $10.95 and last traded at $10.98. Approximately 646,136 shares changed hands during trading, a decline of 39% from the average daily volume of 1,057,502 shares. The stock had previously closed at $12.10.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Roth Mkm boosted their target price on Perpetua Resources from $15.00 to $19.00 and gave the stock a "buy" rating in a research report on Tuesday, January 7th. HC Wainwright lifted their price target on Perpetua Resources from $22.00 to $25.00 and gave the company a "buy" rating in a report on Tuesday, January 7th.

Perpetua Resources Stock Performance

The firm's 50 day moving average is $10.81 and its 200-day moving average is $8.96. The firm has a market cap of $771.90 million, a price-to-earnings ratio of -50.00 and a beta of 0.19.

Insider Buying and Selling

In other news, insider Alan Douglas Haslam sold 40,000 shares of Perpetua Resources stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $10.07, for a total value of $402,800.00. Following the transaction, the insider now directly owns 65,571 shares in the company, valued at approximately $660,299.97. The trade was a 37.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Fourth Sail Capital LP acquired a new stake in shares of Perpetua Resources during the 3rd quarter worth approximately $10,405,000. Herr Investment Group LLC raised its holdings in shares of Perpetua Resources by 5.8% in the 2nd quarter. Herr Investment Group LLC now owns 1,450,498 shares of the company's stock worth $7,543,000 after buying an additional 80,000 shares in the last quarter. State Street Corp lifted its position in shares of Perpetua Resources by 8.8% during the 3rd quarter. State Street Corp now owns 593,502 shares of the company's stock worth $5,549,000 after buying an additional 48,220 shares during the period. JPMorgan Chase & Co. boosted its stake in Perpetua Resources by 232.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 57,158 shares of the company's stock valued at $534,000 after buying an additional 39,954 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Perpetua Resources during the second quarter worth $197,000. 70.07% of the stock is 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.

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