Movers and SHAKERS
Friday, July 10, 2020
Great Panther Mining (GPL)(GPR:CA)
Encouraging Initial Results from the 2020 Tucano Drilling Program
As of April 24, 2020, Noble Capital Markets research on Great Panther Mining is published under ticker symbols (GPL and GPR:CA). The price target is in USD and based on ticker symbol GPL. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. Great Panther Mining Limited, headquartered in Vancouver, Canada, is a precious metals mining and exploration company that operates three mines. These include: 1) the Tucano gold mine in Amapa State, Brazil, 2) the Guanajuato mine complex which includes the Guanajuato and San Ignacio mines in Mexico, and 3) the Topia mine in Mexico. Great Panther also owns the Coricancha Mine in Peru, which is expected to restart operations in 2020. The shares are traded under the ticker "GPR" on the Toronto Stock Exchange and under the ticker "GPL" on the NYSE American.
Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Second quarter production results. Great Panther produced 38,540 gold equivalent ounces, including 36,356 ounces of gold and 142,457 ounces of silver. Compared with the prior year period, gold production increased 8.7%, while silver production declined 59.3%. Sequentially, gold production increased 25.6%, while silver production decreased 62.0%. Notably, Tucano mine gold production increased 18.5% on a year-over-year basis and 35.3% sequentially due to greater ore processing rates and higher gold grades and recoveries. The company's operations in Mexico, which produce mostly silver, resumed production in June following government mandated COVID-19 work restrictions.
Updating estimates. The company provided updated 2020 production guidance and expects to produce between 146,000 and 158,000 gold equivalent ounces, inclusive of the Topia mine. We have narrowed our 2020 loss per share estimate to ...
This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.