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Wednesday, January 15, 2020
Great Panther Mining Limited (GPL)
Upgrading Based on Improving Risk and Reward Profile
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 fourth quarter production results. In aggregate, fourth quarter production increased 275.7% to 44,697 gold equivalent ounces versus the prior year period and decreased 5.7% compared to the third quarter of 2019. The significant year-over-year increase in gold production reflects the acquisition of the Tucano Gold Mine in March 2019. Fourth quarter gold production from the Tucano mine exceeded the recent guidance range of 31,000 to 33,000 ounces with production of 34,181 ounces.
Full year 2019 production. In 2019, Great Panther produced 146,853 gold equivalent ounces which was above the midpoint of management’s guidance range of 142,000 to 149,000 ounces. In addition to the Tucano mine’s strong finish to the year, the Topia mine experienced higher year-over-year production as a result of...
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.