Anson Funds Management Exits Perpetua Resources with $26.1 Million Liquidation in Q3
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 02 2026
0mins
Should l Buy PPTA?
Source: NASDAQ.COM
- Exit Decision: Anson Funds Management fully liquidated its position in Perpetua Resources by selling 2.15 million shares valued at approximately $26.1 million in Q3, indicating a strategic exit amid reassessment of market risks.
- Position Change: Previously, this asset constituted 3.8% of the fund's AUM, and its removal from the portfolio reflects a cautious stance on Perpetua's future performance and market volatility.
- Stock Volatility: Perpetua Resources' stock surged 129% over the past year but fell about 17% in the last month, which likely influenced Anson's decision to exit in order to mitigate portfolio risk associated with such volatility.
- Financing Complexity: Following strategic investments and additional equity raises, Perpetua faces increased financing complexity and timeline sensitivity, making the exit a rational capital allocation decision rather than a bearish outlook on the asset.
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Analyst Views on PPTA
Wall Street analysts forecast PPTA stock price to rise
5 Analyst Rating
5 Buy
0 Hold
0 Sell
Strong Buy
Current: 27.570
Low
30.00
Averages
32.72
High
40.00
Current: 27.570
Low
30.00
Averages
32.72
High
40.00
About PPTA
Perpetua Resources Corp. is a development-stage company. The Company operates through mineral exploration in the United States segment. It is primarily engaged in acquiring mining properties with the intention of exploring, evaluating, and placing them into production. The Company’s principal business is the exploration and subject to receipt of required permitting, redevelopment, restoration and operation of the Stibnite Gold Project in Idaho, the United States. Its Stibnite Gold Project is located in central Idaho, the United States, which lies over 100 miles northeast of Boise, Idaho, over 38 miles east of McCall, Idaho, and approximately 10 miles east of Yellow Pine, Idaho. Its mineral Stibnite Gold Project contains gold, silver, and antimony mineral deposits. It focuses to explore, evaluate, and potentially redevelop three of the deposits known as the Hangar Flats Deposit, West End Deposit and Yellow Pine Deposit.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Drilling Results: The ongoing 2025-2026 drilling program has completed 30 holes, all of which intercepted significant gold-antimony mineralization, particularly LB25-013 which showed 1.37 g/t AuEq over 21.4 meters, highlighting the project's substantial mineralization potential.
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- Options Selling Risks: Selling puts does not provide investors with the same upside potential as owning shares, as the put seller only acquires shares if the contract is exercised, and unless Perpetua Resources Corp's shares decline by 25.8%, the only benefit is a 16.3% annualized return from the premium.
- Strike Price Analysis: At the $20 strike price, the put seller only profits if exercising the option yields a better outcome than selling at the market price, necessitating careful market evaluation to avoid losses.
- Volatility Consideration: With a trailing twelve-month volatility of 84% for Perpetua Resources Corp, this metric, combined with fundamental analysis, aids investors in assessing whether selling the January 2027 put at the $20 strike is a worthwhile risk.
- Yield Assessment: The only profit from selling puts comes from the collected premium, and if the stock price does not meet the exercise conditions, investors must weigh the risks against the potential 16.3% annualized return.
See More
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- Surge in Government Investment: The Pentagon's $4.5 billion investment in critical minerals during the last months of 2025 is expected to lead to record levels of government support for strategic mineral projects in 2026, enhancing competitiveness for companies in defense and technology sectors.
- Mineral Discovery: GoldHaven Resources has confirmed a mineral system across 36,973 hectares at its Magno Project in British Columbia, showcasing potential for copper, gold, silver, lead, zinc, and tungsten, which could significantly enhance the company's resource development opportunities.
- High-Grade Mineralization Validation: Surface sampling at the Magno Zone revealed copper values up to 6,660 ppm, indicating the presence of high-grade copper mineralization within the rocks, further supporting the project's economic viability and future drilling plans.
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See More
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- Analyst Reactions: As the stock exceeds the target price, analysts may either downgrade their valuations or raise their target prices, reflecting differing views on the company's improving fundamentals, which could influence investor decisions.
- Target Price Distribution: Among analysts covered by Zacks, target prices range from $30.00 to $40.00, with a standard deviation of $3.835, illustrating varying expectations for PPTA's future performance in the market.
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See More
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- Expansion Drilling Results: The company's drilling at Resurrection Ridge has revealed a new oxide gold discovery 150 meters east of previous drilling, with assays indicating 1.03 g/t AuEq, further validating NevGold's geological model and likely attracting increased investment and interest.
- Ongoing Drilling Plans: NevGold plans to continue follow-up drilling in 2026 to expand the identified mineralization, having completed 30 drill holes to date, which demonstrates the area's mineralization potential and may lay the groundwork for future production.
- Strategic Importance: Antimony is classified as a critical mineral by the U.S., and NevGold's discovery not only strengthens its position in the domestic antimony supply chain but also holds significant implications for national security and the economy, especially amid global supply constraints.
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