Perpetua Resources (NASDAQ:PPTA) Shares Gap Down After Earnings Miss

Shares of Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) gapped down before the market opened on Monday following a weaker than expected earnings announcement. The stock had previously closed at $15.18, but opened at $14.10. Perpetua Resources shares last traded at $12.35, with a volume of 509,443 shares trading hands.

The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.07).

Wall Street Analyst Weigh In

Several analysts recently weighed in on PPTA shares. HC Wainwright dropped their target price on shares of Perpetua Resources from $28.00 to $27.50 and set a "buy" rating for the company in a report on Tuesday. National Bank Financial raised shares of Perpetua Resources to a "strong-buy" rating in a research report on Friday, March 21st. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Perpetua Resources in a report on Wednesday, April 2nd.

Insider Transactions at Perpetua Resources

In related news, Director Robert Alan Dean bought 5,000 shares of the stock in a transaction 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 owns 10,000 shares of the company's stock, valued at $83,200. This represents a 100.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alan Douglas Haslam sold 10,400 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $9.24, for a total transaction of $96,096.00. Following the transaction, the insider now 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 disclosure for this sale can be found here. Over the last ninety days, insiders have bought 20,230 shares of company stock worth $166,582 and have sold 59,610 shares worth $606,423. Company insiders own 1.50% of the company's stock.

Institutional Trading of Perpetua Resources

Large investors have recently modified their holdings of the business. Ancora Advisors LLC acquired a new stake in shares of Perpetua Resources in the fourth quarter valued at approximately $37,000. GAMMA Investing LLC grew its position in shares of Perpetua Resources by 1,658.4% in the first quarter. GAMMA Investing LLC now owns 4,308 shares of the company's stock valued at $46,000 after purchasing an additional 4,063 shares during the last quarter. North Capital Inc. purchased a new position in shares of Perpetua Resources during the first quarter valued at approximately $53,000. BNP Paribas Financial Markets purchased a new position in shares of Perpetua Resources during the fourth quarter valued at approximately $55,000. Finally, Quantbot Technologies LP purchased a new position in shares of Perpetua Resources during the first quarter valued at approximately $76,000. 70.07% of the stock is currently owned by institutional investors and hedge funds.

Perpetua Resources Stock Down 1.9%

The firm has a market cap of $851.15 million, a PE ratio of -54.27 and a beta of 0.06. The firm's 50 day moving average is $12.14 and its 200-day moving average is $11.18.

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.