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

Shares of Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $16.49, but opened at $13.58. Perpetua Resources shares last traded at $13.30, with a volume of 2,139,431 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. National Bankshares reissued an "outperform" rating on shares of Perpetua Resources in a report on Wednesday, April 2nd. HC Wainwright dropped their price objective on Perpetua Resources from $28.00 to $27.50 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Finally, National Bank Financial raised Perpetua Resources to a "strong-buy" rating in a research report on Friday, March 21st.

Perpetua Resources Stock Down 2.1%

The company has a market cap of $918.61 million, a P/E ratio of -58.36 and a beta of 0.02. The company has a fifty day moving average of $13.86 and a 200 day moving average of $11.91.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.07). As a group, research analysts forecast that Perpetua Resources Corp. will post -0.21 EPS for the current year.

Insider Transactions at Perpetua Resources

In other news, insider Mckinsey Margaret Lyon sold 20,000 shares of Perpetua Resources stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $11.00, for a total transaction of $220,000.00. Following the transaction, the insider now directly owns 89,154 shares of the company's stock, valued at $980,694. The trade was a 18.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Stephen Wright sold 6,500 shares of Perpetua Resources stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $13.85, for a total transaction of $90,025.00. Following the transaction, the insider now owns 14,195 shares in the company, valued at approximately $196,600.75. This trade represents a 31.41% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company's stock.

Institutional Trading of Perpetua Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ancora Advisors LLC purchased a new stake in Perpetua Resources during the 4th quarter valued at approximately $37,000. GAMMA Investing LLC boosted its position in shares of Perpetua Resources by 1,658.4% during the first quarter. GAMMA Investing LLC now owns 4,308 shares of the company's stock worth $46,000 after acquiring an additional 4,063 shares during the last quarter. North Capital Inc. purchased a new position in Perpetua Resources during the first quarter valued at $53,000. BNP Paribas Financial Markets bought a new stake in Perpetua Resources in the 4th quarter valued at $55,000. Finally, Quantbot Technologies LP purchased a new stake in Perpetua Resources in the 1st quarter worth $76,000. 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.