Perpetua Resources (NASDAQ:PPTA) Trading Down 4% - Here's Why

Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) dropped 4% during mid-day trading on Thursday . The company traded as low as $13.69 and last traded at $13.58. Approximately 76,791 shares changed hands during trading, a decline of 89% from the average daily volume of 681,708 shares. The stock had previously closed at $14.14.

Wall Street Analysts Forecast Growth

PPTA has been the subject of a number of analyst reports. HC Wainwright decreased their price objective on shares of Perpetua Resources from $28.00 to $27.50 and set a "buy" rating for the company in a report on Tuesday, May 13th. National Bankshares restated an "outperform" rating on shares of Perpetua Resources in a 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 Up 1.0%

The company has a market cap of $984.46 million, a price-to-earnings ratio of -62.77 and a beta of 0.06. The company's fifty day moving average price is $12.75 and its two-hundred day moving average price is $11.45.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) 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). On average, equities research analysts predict that Perpetua Resources Corp. will post -0.21 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Mckinsey Margaret Lyon sold 20,000 shares of the business's stock in a transaction on Friday, March 28th. The shares were sold at an average price of $11.00, for a total value of $220,000.00. Following the sale, the insider now owns 89,154 shares of the company's stock, valued at $980,694. The trade was a 18.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael Stephen Wright sold 6,500 shares of the business's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $13.85, for a total transaction 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 represents a 31.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,210 shares of company stock worth $510,327 over the last quarter. 1.50% of the stock is currently owned by company insiders.

Institutional Trading of Perpetua Resources

A number of institutional investors have recently made changes to their positions in PPTA. DLD Asset Management LP bought a new stake in Perpetua Resources during the first quarter worth $1,069,000. Rhumbline Advisers raised its position in Perpetua Resources by 6.0% during the first quarter. Rhumbline Advisers now owns 64,688 shares of the company's stock worth $692,000 after acquiring an additional 3,672 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Perpetua Resources by 1.7% during the first quarter. Goldman Sachs Group Inc. now owns 108,921 shares of the company's stock worth $1,164,000 after acquiring an additional 1,835 shares in the last quarter. Millennium Management LLC raised its position in Perpetua Resources by 219.0% during the first quarter. Millennium Management LLC now owns 1,181,899 shares of the company's stock worth $12,634,000 after acquiring an additional 811,363 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Perpetua Resources by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,958 shares of the company's stock worth $672,000 after acquiring an additional 2,680 shares in the last quarter. 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.