Movers and SHAKERS
Monday, May 11, 2020
Great Panther Mining (GPL)(GPR:CA)
Lowering Rating to Market Perform
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.
GPL reports first quarter loss. Great Panther Mining reported a first quarter loss of $(40.5) million, or $(0.13) per share, compared with our net income estimate of $71 thousand, or $0.00 per share. The variance to our estimate was due to lower revenue and losses on derivative instruments and foreign exchange. Adjusted EBITDA amounted to $6.4 million which was below our estimate.
Updating estimates.While our 2021 estimates are unchanged, we are lowering our 2020 EPS and EBITDA estimates to ($0.09) and $50.2 million from $0.03 and $61.4 million. The decline in EBITDA is not as severe given that losses on derivative instruments and...
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.