Perpetua Resources (NASDAQ:PPTA) Shares Gap Down After Insider Selling

Perpetua Resources Corp. (NASDAQ:PPTA)’s share price gapped down prior to trading on Friday following insider selling activity. The stock had previously closed at $9.23, but opened at $8.97. Perpetua Resources shares last traded at $8.70, with a volume of 480,391 shares changing hands.

Specifically, insider Alan Douglas Haslam sold 10,400 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were 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 in the company, valued at $607,650.12. The trade was a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analysts Set New Price Targets

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

Perpetua Resources Price Performance

The firm has a 50 day moving average price of $11.48 and a 200-day moving average price of $10.07. The firm has a market cap of $587.34 million, a price-to-earnings ratio of -37.95 and a beta of 0.20.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Ancora Advisors LLC bought a new stake in shares of Perpetua Resources during the fourth quarter worth approximately $37,000. Continuum Advisory LLC raised its position in shares of Perpetua Resources by 500.0% during the 3rd quarter. Continuum Advisory LLC now owns 4,800 shares of the company’s stock valued at $44,000 after acquiring an additional 4,000 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Perpetua Resources in the 4th quarter valued at $55,000. Intech Investment Management LLC bought a new position in shares of Perpetua Resources in the 3rd quarter worth $98,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Perpetua Resources during the fourth quarter worth $116,000. 70.07% of the stock is currently owned by institutional investors and hedge funds.

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.