Perpetua Resources (NASDAQ:PPTA) Sees Unusually-High Trading Volume – Still a Buy?

Perpetua Resources Corp. (NASDAQ:PPTA) shares saw unusually-high trading volume on Wednesday . 355,298 shares traded hands during trading, an increase of 25% from the previous session’s volume of 284,193 shares.The stock last traded at $11.45 and had previously closed at $10.59.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PPTA. National Bank Financial began coverage on shares of Perpetua Resources in a research note on Friday, September 6th. They issued an “outperform” rating on the stock. Roth Mkm lifted their price target on shares of Perpetua Resources from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, HC Wainwright lifted their price objective on shares of Perpetua Resources from $13.25 to $22.00 and gave the company a “buy” rating in a research report on Friday, November 15th.

Perpetua Resources Stock Performance

The firm has a market cap of $757.84 million, a P/E ratio of -52.05 and a beta of 0.22. The firm’s fifty day moving average is $9.65 and its 200 day moving average is $7.92.

Insider Buying and Selling

In related news, insider Alan Douglas Haslam sold 40,000 shares of Perpetua Resources stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $10.07, for a total transaction of $402,800.00. Following the completion of the sale, the insider now owns 65,571 shares of the company’s stock, valued at approximately $660,299.97. The trade was a 37.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.90% of the stock is currently owned by insiders.

Institutional Trading of Perpetua Resources

Institutional investors have recently bought and sold shares of the business. Continuum Advisory LLC boosted its holdings in Perpetua Resources by 500.0% in the 3rd quarter. Continuum Advisory LLC now owns 4,800 shares of the company’s stock valued at $44,000 after purchasing an additional 4,000 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in Perpetua Resources in the 1st quarter valued at about $51,000. Flaharty Asset Management LLC bought a new stake in Perpetua Resources in the 2nd quarter valued at about $70,000. Intech Investment Management LLC bought a new stake in Perpetua Resources in the 3rd quarter valued at about $98,000. Finally, Quantbot Technologies LP acquired a new position in shares of Perpetua Resources in the 3rd quarter valued at approximately $123,000. Institutional investors own 70.07% of the company’s stock.

Perpetua Resources Company Profile

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.