Perpetua Resources (NASDAQ:PPTA) Stock Price Down 4.1% - Here's Why

Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) was down 4.1% during trading on Tuesday . The company traded as low as $13.12 and last traded at $13.18. Approximately 166,365 shares traded hands during trading, a decline of 71% from the average daily volume of 566,207 shares. The stock had previously closed at $13.74.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. HC Wainwright upped 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. Roth Mkm lifted their price objective on Perpetua Resources from $15.00 to $19.00 and gave the company a "buy" rating in a research report on Tuesday, January 7th. National Bankshares reiterated an "outperform" rating on shares of Perpetua Resources in a research report on Wednesday, April 2nd. Finally, National Bank Financial upgraded shares of Perpetua Resources to a "strong-buy" rating in a report on Friday, March 21st.

Perpetua Resources Stock Down 1.5 %

The stock has a market cap of $928.51 million, a price-to-earnings ratio of -59.77 and a beta of 0.12. The stock has a fifty day moving average of $10.27 and a two-hundred day moving average of $10.62.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last issued its earnings results on Wednesday, March 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.03. Equities research analysts anticipate that Perpetua Resources Corp. will post -0.21 EPS for the current fiscal year.

Insider Activity at Perpetua Resources

In other news, insider Mckinsey Margaret Lyon sold 20,000 shares of the stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $11.00, for a total value of $220,000.00. Following the completion of the sale, the insider now owns 89,154 shares in the company, valued at approximately $980,694. This trade represents a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Alan Dean purchased 5,000 shares of Perpetua Resources stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average cost of $8.32 per share, for a total transaction of $41,600.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $83,200. This represents a 100.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 20,230 shares of company stock worth $166,582 and have sold 53,110 shares worth $516,398. Company insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On Perpetua Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sprott Inc. grew its stake in shares of Perpetua Resources by 5.3% during the fourth quarter. Sprott Inc. now owns 2,938,871 shares of the company's stock valued at $31,358,000 after acquiring an additional 148,273 shares in the last quarter. Condire Management LP increased its holdings in Perpetua Resources by 6.9% during the 4th quarter. Condire Management LP now owns 890,459 shares of the company's stock worth $9,501,000 after purchasing an additional 57,399 shares during the last quarter. Amundi acquired a new position in shares of Perpetua Resources in the 4th quarter valued at approximately $7,788,000. State Street Corp boosted its stake 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 valued at $5,549,000 after buying an additional 48,220 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Perpetua Resources by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 489,958 shares of the company's stock worth $5,228,000 after buying an additional 5,129 shares during the last quarter. 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.