Perpetua Resources (NASDAQ:PPTA) Stock Price Down 12.6% – Should You Sell?

by · The Cerbat Gem

Shares of Perpetua Resources Corp. (NASDAQ:PPTAGet Free Report) dropped 12.6% on Friday . The stock traded as low as $28.23 and last traded at $28.0210. Approximately 1,991,864 shares traded hands during mid-day trading, a decline of 5% from the average daily volume of 2,096,140 shares. The stock had previously closed at $32.06.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PPTA shares. Wall Street Zen lowered shares of Perpetua Resources from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a report on Thursday, January 22nd. Zacks Research upgraded Perpetua Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. UBS Group set a $30.00 target price on Perpetua Resources in a research report on Thursday, October 9th. Finally, B. Riley reaffirmed a “buy” rating on shares of Perpetua Resources in a research report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Perpetua Resources has a consensus rating of “Buy” and an average target price of $30.67.

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Perpetua Resources Stock Performance

The company’s fifty day moving average price is $27.97 and its 200 day moving average price is $22.72. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of -54.69 and a beta of 0.03.

Perpetua Resources (NASDAQ:PPTAGet Free Report) last issued its earnings results on Friday, November 14th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.23). As a group, sell-side analysts expect that Perpetua Resources Corp. will post -0.21 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Jeffrey L. Malmen sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $26.57, for a total transaction of $132,850.00. Following the completion of the transaction, the director owned 14,319 shares of the company’s stock, valued at approximately $380,455.83. The trade was a 25.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Alexander Mcleod Sternhell sold 3,000 shares of Perpetua Resources stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $29.09, for a total transaction of $87,270.00. Following the completion of the sale, the director owned 16,352 shares in the company, valued at approximately $475,679.68. This represents a 15.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 78,017 shares of company stock valued at $2,084,188. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Perpetua Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC bought a new stake in Perpetua Resources during the 2nd quarter valued at $31,000. Private Trust Co. NA bought a new position in Perpetua Resources during the 3rd quarter valued at $35,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Perpetua Resources during the 2nd quarter valued at $39,000. Aventura Private Wealth LLC bought a new stake in shares of Perpetua Resources in the 4th quarter worth $48,000. Finally, Farther Finance Advisors LLC acquired a new stake in shares of Perpetua Resources in the third quarter valued at $52,000. 70.07% of the stock is owned by institutional investors.

Perpetua Resources Company Profile

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Perpetua Resources Inc (NASDAQ: PPTA), formerly known as eCobalt Solutions Inc, is a mineral exploration and development company focused on critical metals that support the global clean-energy transition. The company’s primary objective is to advance its flagship Idaho Cobalt Project, a permitted underground mine located near Stibnite, Idaho. This project is designed to produce cobalt, copper, gold and silver, with an emphasis on providing responsibly sourced materials to North American battery and technology markets.

In addition to its Idaho Cobalt Project, Perpetua Resources holds exploration licenses and mineral tenures across the United States and Canada.

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