Investor Exits $5.5 Million Perpetua Resources Stake Amid Stock's 150% Rally
Key Points
Brazil-based JGP Global Gestao de Recursos sold 450,000 shares of Perpetua Resources in an estimated $5.5 million transaction during the third quarter.
The transaction represented 3.2% of JGP Global’s 13F reportable assets under management as of September 30.
The position previously accounted for 2.7% of the fund's AUM.
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On Thursday, Brazil-based JGP Global Gestao de Recursos disclosed that it liquidated its entire stake in Perpetua Resources (NASDAQ:PPTA), selling 450,000 shares for an estimated $5.5 million, according to an SEC Form 13F for the period ended September 30.
What Happened
JGP Global Gestao de Recursos disclosed in an SEC filing released Thursday that it sold its entire 450,000-share position in Perpetua Resources. The estimated trade value, based on average quarterly prices, was approximately $5.5 million.
What Else to Know
Top holdings after the filing:
- NYSEMKT:NGD: $75.5 million (44.1% of AUM)
- NASDAQ:STNE: $60.8 million (35.5% of AUM)
- NASDAQ:XP: $11.3 million (6.6% of AUM)
- NYSE:NU: $11.3 million (6.6% of AUM)
- NASDAQ:ONC: $1.8 million (1% of AUM)
As of Monday's market close, Perpetua Resources shares were priced at $24.84, up a staggering 158% over the prior year and far outperforming the S&P 500's 18% gain over the same period.
Company Overview
| Metric | Value |
|---|---|
| Market Capitalization | $2.7 billion |
| Revenue (TTM) | $0 |
| Net Income (TTM) | ($22.1 million) |
| Price (as of Monday) | $24.84 |
Company Snapshot
- Perpetua Resources engages in mineral exploration, primarily focusing on gold, silver, and antimony through the Stibnite gold project in Idaho.
- The company operates under an asset development business model, advancing mineral projects toward production.
- It serves industrial and precious metals markets, with a focus on U.S.-based resource development.
Perpetua Resources is a U.S.-based mineral exploration company with a core focus on the Stibnite gold project in Idaho. The company leverages its 100% ownership of this asset to advance the development of gold, silver, and antimony resources.
Foolish Take
JGP Global’s full exit from Perpetua Resources seemingly represents profit-taking after a sharp rally and possibly a tactical rotation away from uncertain mining plays. The Brazil-based investment firm sold all 450,000 shares in the third quarter, an estimated $5.5 million sale based on average prices. The liquidation comes as Perpetua’s stock more than doubled over the past year, buoyed by progress at its Stibnite Gold Project.
Perpetua’s project, which recently secured its final federal permit and broke ground on construction, is set to become one of the largest open-pit gold mines in the U.S. while producing the country’s only mined source of antimony, a critical mineral for defense applications.
For long-term investors, JGP’s exit underscores the balance between opportunity and execution risk in early-stage resource stocks. While Perpetua’s permitting wins mark major milestones, the project could still face financing and construction hurdles. Ultimately, investors seeking exposure to the metals upcycle may find Perpetua compelling—but with the understanding that it remains a high-risk, development-stage bet rather than a steady producer.
Glossary
13F: A quarterly SEC filing by institutional investment managers disclosing their equity holdings.
Assets under management (AUM): The total market value of investments managed by a fund or investment firm.
Liquidated: Sold off an entire investment position, reducing the holding to zero.
Exposure: The proportion of a portfolio invested in a particular asset or sector.
Alpha: A measure of an investment's performance compared to a benchmark, indicating excess returns.
Asset development business model: A strategy focused on advancing projects toward production rather than immediate extraction or operations.
Stibnite gold project: A specific mining project in Idaho, primarily for gold, silver, and antimony resources.
TTM: The 12-month period ending with the most recent quarterly report.
Position: The amount of a particular security or asset held in a portfolio.
Quarterly report: A financial statement released every three months, detailing a company's performance.
Market close: The end of the regular trading session for a stock exchange on a given day.
Antimony: A chemical element used in alloys and flame retardants, often mined alongside gold and silver.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends StoneCo. The Motley Fool recommends Nu Holdings. The Motley Fool has a disclosure policy.
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