Perpetua Resources (NASDAQ:PPTA) Shares Down 14.4% - Here's What Happened

Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) shares fell 14.4% during mid-day trading on Friday . The stock traded as low as $9.37 and last traded at $9.59. 553,464 shares traded hands during trading, an increase of 3% from the average session volume of 538,477 shares. The stock had previously closed at $11.20.

Wall Street Analyst Weigh In

PPTA has been the subject of a number of analyst reports. HC Wainwright lifted their target price on shares of Perpetua Resources from $25.00 to $28.00 and gave the stock a "buy" rating in a report on Friday, March 21st. 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. National Bank Financial upgraded Perpetua Resources to a "strong-buy" rating in a report on Friday, March 21st. Finally, National Bankshares restated an "outperform" rating on shares of Perpetua Resources in a report on Wednesday, April 2nd.

Perpetua Resources Trading Up 13.5 %

The firm's 50 day moving average price is $10.21 and its two-hundred day moving average price is $10.43. The company has a market capitalization of $763.99 million, a price-to-earnings ratio of -49.18 and a beta of 0.12.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last posted its quarterly earnings data on Wednesday, March 19th. The company reported ($0.06) earnings per share 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 EPS for the current year.

Insider Activity

In related news, insider Alan Douglas Haslam sold 10,400 shares of Perpetua Resources stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $9.24, for a total value of $96,096.00. Following the transaction, the insider now directly owns 65,763 shares of the company's stock, valued at $607,650.12. The trade was a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew Phillip Cole acquired 9,450 shares of the stock in a transaction dated Monday, February 24th. The stock was acquired at an average cost of $7.99 per share, with a total value of $75,505.50. Following the completion of the transaction, the director now owns 9,450 shares in the company, valued at approximately $75,505.50. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 20,230 shares of company stock worth $166,582 and have sold 53,110 shares worth $516,398. Corporate insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PPTA. Bank of Montreal Can raised its position in Perpetua Resources by 1.6% in the fourth quarter. Bank of Montreal Can now owns 67,594 shares of the company's stock worth $721,000 after acquiring an additional 1,054 shares during the period. Geode Capital Management LLC raised its stake in Perpetua Resources by 0.5% in the third 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 raised its position 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 purchasing an additional 2,605 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Perpetua Resources by 24.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,722 shares of the company's stock worth $168,000 after buying an additional 3,067 shares during the last quarter. Finally, Lane & Associates LLC raised its stake in shares of Perpetua Resources by 24.0% during the fourth quarter. Lane & Associates LLC now owns 15,987 shares of the company's stock worth $189,000 after acquiring an additional 3,095 shares in the last quarter. Hedge funds and other 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.