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

Perpetua Resources Corp. (NASDAQ:PPTA)’s stock price gapped down prior to trading on Friday after an insider sold shares in the company. 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 traded.

Specifically, insider Alan Douglas Haslam sold 10,400 shares of Perpetua Resources stock in a transaction dated Thursday, February 20th. The stock was 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 approximately $607,650.12. The trade was a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analysts Set New Price Targets

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

Perpetua Resources Trading Down 9.5 %

The firm has a fifty day simple moving average of $11.48 and a 200 day simple moving average of $10.07. The stock 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

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Perpetua Resources by 8.8% during the 3rd quarter. State Street Corp now owns 593,502 shares of the company’s stock worth $5,549,000 after acquiring an additional 48,220 shares during the period. Barclays PLC lifted its stake in Perpetua Resources by 63.4% during the third quarter. Barclays PLC now owns 74,119 shares of the company’s stock worth $694,000 after purchasing an additional 28,746 shares during the period. JPMorgan Chase & Co. boosted its holdings in Perpetua Resources by 232.2% during the third quarter. JPMorgan Chase & Co. now owns 57,158 shares of the company’s stock valued at $534,000 after purchasing an additional 39,954 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Perpetua Resources by 4.3% in the 3rd quarter. Jane Street Group LLC now owns 63,527 shares of the company’s stock valued at $597,000 after purchasing an additional 2,605 shares during the period. Finally, Ninety One UK Ltd acquired a new position in shares of Perpetua Resources in the 4th quarter worth approximately $1,693,000. 70.07% of the stock is owned by institutional investors.

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.