Chek the Channels
Thursday, April 2, 2020
Great Panther Mining Limited (GPL)
Positioning Tucano to Reach its Full Potential
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 full year 2019 results. GPL reported a full year net loss of $91.0 million, or ($0.33) per share, compared to our estimate of $29.8 million, or ($0.11) per share. The variance to our estimate was due, in part, to an impairment of goodwill associated with the Tucano mine. Full year adjusted EBITDA amounted to $7.9 million.
Updating estimates. We project 2020 EPS and EBITDA of $0.03 and $62.2 million, respectively. While EPS is unchanged, EBITDA is down modestly from our prior estimate of $63.8 million. We are initiating 2021 EPS and EBITDA estimates of $0.10 and $87.0 million, respectively. While Great Panther has had its share of operating challenges, we believe 2020 could be a transition year 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.