Perpetua Resources (NASDAQ:PPTA) Stock Price Down 6.3% - Should You Sell?

Perpetua Resources Corp. (NASDAQ:PPTA - Get Free Report) shares traded down 6.3% during mid-day trading on Tuesday . The stock traded as low as $12.45 and last traded at $12.29. 876,912 shares were traded during trading, a decline of 13% from the average session volume of 1,010,143 shares. The stock had previously closed at $13.11.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. National Bankshares restated an "outperform" rating on shares of Perpetua Resources in a research note on Wednesday, June 18th. B. Riley restated a "buy" rating and set a $17.00 price objective (up from $16.00) on shares of Perpetua Resources in a research note on Wednesday, June 18th. HC Wainwright reiterated a "buy" rating and issued a $27.50 price target on shares of Perpetua Resources in a research report on Tuesday, June 17th. Finally, National Bank Financial upgraded shares of Perpetua Resources to a "strong-buy" rating in a research report on Friday, March 21st. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Perpetua Resources currently has an average rating of "Buy" and an average price target of $21.17.

Perpetua Resources Stock Performance

The company has a 50 day simple moving average of $13.79 and a two-hundred day simple moving average of $12.09. The company has a market cap of $1.42 billion, a PE ratio of -50.90 and a beta of -0.04.

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

Insider Buying and Selling

In other news, insider Michael Stephen Wright sold 6,500 shares of the company's stock in a transaction that occurred 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 transaction, the insider directly owned 14,195 shares in the company, valued at $196,600.75. The trade was a 31.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Paulson & Co. Inc. bought 7,575,757 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was purchased at an average price of $13.20 per share, with a total value of $99,999,992.40. Following the completion of the purchase, the insider directly owned 32,347,299 shares of the company's stock, valued at $426,984,346.80. This represents a 30.58% increase in their position. The disclosure for this purchase can be found here. 1.50% of the stock is owned by corporate insiders.

Institutional Trading of Perpetua Resources

Large investors have recently made changes to their positions in the business. Lowe Wealth Advisors LLC bought a new stake in shares of Perpetua Resources during the second quarter worth $26,000. Ancora Advisors LLC bought a new position in Perpetua Resources in the fourth quarter valued at about $37,000. GAMMA Investing LLC boosted its holdings in 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 acquiring an additional 4,063 shares during the last quarter. North Capital Inc. bought a new position in Perpetua Resources in the first quarter valued at about $53,000. Finally, BNP Paribas Financial Markets bought a new position in Perpetua Resources in the fourth quarter valued at about $55,000. 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.