Perpetua Resources (NASDAQ:PPTA) Shares Gap Down Following Weak Earnings

Perpetua Resources Corp. (NASDAQ:PPTA) shares gapped down before the market opened on Monday following a dissappointing earnings announcement. The stock had previously closed at $15.18, but opened at $14.10. Perpetua Resources shares last traded at $12.35, with a volume of 509,443 shares trading hands.

The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.10).

Analyst Ratings Changes

PPTA has been the topic of several analyst reports. National Bank Financial raised Perpetua Resources to a “strong-buy” rating in a research report on Friday, March 21st. HC Wainwright increased their target price on Perpetua Resources from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Perpetua Resources in a research report on Wednesday, April 2nd.

Insider Transactions at Perpetua Resources

In related news, insider Alan Douglas Haslam sold 10,400 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $9.24, for a total transaction of $96,096.00. Following the completion of the transaction, the insider now owns 65,763 shares of the company’s stock, valued at $607,650.12. This trade represents a 13.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael Stephen Wright sold 6,500 shares of the firm’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $13.85, for a total value of $90,025.00. Following the transaction, the insider now directly owns 14,195 shares of the company’s stock, valued at $196,600.75. This represents a 31.41% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 20,230 shares of company stock valued at $166,582 and sold 59,610 shares valued at $606,423. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Bank of Montreal Can lifted its position in shares of Perpetua Resources by 1.6% in the 4th quarter. Bank of Montreal Can now owns 67,594 shares of the company’s stock valued at $721,000 after acquiring an additional 1,054 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Perpetua Resources by 24.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,722 shares of the company’s stock valued at $168,000 after acquiring an additional 3,067 shares in the last quarter. Lane & Associates LLC lifted its position in shares of Perpetua Resources by 24.0% in the 4th quarter. Lane & Associates LLC now owns 15,987 shares of the company’s stock valued at $189,000 after acquiring an additional 3,095 shares in the last quarter. Ancora Advisors LLC purchased a new stake in shares of Perpetua Resources in the 4th quarter valued at approximately $37,000. Finally, Continuum Advisory LLC lifted its position in shares of Perpetua Resources by 72.9% in the 1st quarter. Continuum Advisory LLC now owns 8,300 shares of the company’s stock valued at $89,000 after acquiring an additional 3,500 shares in the last quarter. Institutional investors own 70.07% of the company’s stock.

Perpetua Resources Trading Down 17.9%

The firm has a market cap of $888.94 million, a PE ratio of -56.48 and a beta of 0.06. The company’s 50-day moving average is $11.83 and its 200 day moving average is $11.13.

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.