Perpetua Resources (NASDAQ:PPTA) Trading Down 6.7% Following Analyst Downgrade

Perpetua Resources Corp. (NASDAQ:PPTA) shares traded down 6.7% during trading on Wednesday after HC Wainwright lowered their price target on the stock from $28.00 to $27.50. HC Wainwright currently has a buy rating on the stock. Perpetua Resources traded as low as $11.22 and last traded at $11.46. 263,406 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 644,894 shares. The stock had previously closed at $12.28.

A number of other equities analysts have also weighed in on PPTA. National Bank Financial raised shares of Perpetua Resources to a “strong-buy” rating in a research note on Friday, March 21st. National Bankshares reaffirmed an “outperform” rating on shares of Perpetua Resources in a research note on Wednesday, April 2nd.

Insider Transactions at Perpetua Resources

In related news, insider Michael Stephen Wright sold 6,500 shares of the firm’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $13.85, for a total value of $90,025.00. Following the completion of the sale, the insider now directly owns 14,195 shares in the company, valued at approximately $196,600.75. This trade represents a 31.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alan Douglas Haslam sold 10,400 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $9.24, for a total transaction of $96,096.00. Following the completion of the sale, the insider now owns 65,763 shares of the company’s stock, valued at $607,650.12. This trade represents a 13.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders acquired 20,230 shares of company stock worth $166,582 and sold 59,610 shares worth $606,423. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Perpetua Resources

Hedge funds have recently bought and sold shares of the company. Barclays PLC lifted its stake in Perpetua Resources by 63.4% in the 3rd quarter. Barclays PLC now owns 74,119 shares of the company’s stock valued at $694,000 after purchasing an additional 28,746 shares during the last quarter. JPMorgan Chase & Co. lifted 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 purchasing an additional 39,954 shares during the last quarter. Ninety One UK Ltd acquired a new stake in Perpetua Resources in the 4th quarter valued at about $1,693,000. Raymond James Financial Inc. acquired a new stake in Perpetua Resources in the 4th quarter valued at about $280,000. Finally, Amundi acquired a new stake in Perpetua Resources in the 4th quarter valued at about $7,788,000. 70.07% of the stock is currently owned by institutional investors and hedge funds.

Perpetua Resources Trading Up 5.7%

The firm has a market capitalization of $867.55 million, a price-to-earnings ratio of -55.32 and a beta of 0.06. The company’s 50 day moving average is $12.08 and its 200-day moving average is $11.17.

Perpetua Resources (NASDAQ:PPTA) last released its quarterly earnings results on Friday, May 9th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.07). Research analysts expect that Perpetua Resources Corp. will post -0.21 EPS for the current year.

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.