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Monday, December 2, 2019
Great Panther Mining Limited (GPL)
GPL Cuts 2019 Production Guidance Again; Lowering Rating to Market Perform
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 full report for the price target, fundamental analysis, and rating.
Production guidance lowered. Management lowered its 2019 production guidance for the second time and now expects a full-year production of 142,000 to 149,000 gold equivalent ounces compared to previous guidance of 150,000 to 160,000 gold equivalent ounces. The Tucano mine is now expected to produce between 31,000 and 33,000 gold ounces during the fourth quarter versus prior expectations of 39,000 to 44,000 ounces.
Updating estimates. We are lowering our 2019 EPS and EBITDA estimates to ($0.10) and $20.1 million from ($0.07) and $26.4 million, respectively. Our full-year 2020 EPS and EBITDA estimates have also been lowered to $0.04 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 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.