HC Wainwright Reaffirms “Buy” Rating for Great Panther Mining (NYSEAMERICAN:GPL)

HC Wainwright reaffirmed their buy rating on shares of Great Panther Mining (NYSEAMERICAN:GPL) (TSE:GPR) in a research note published on Monday morning, AnalystRatings.com reports.

“We reiterate our Buy recommendation and increase our price target from $1.50 per share to $2.25 per share. Our increased price target is a direct result of the aforementioned price deck revisions. Our valuation remains based on a NAV methodology for Great Panther’s various assets. We utilize an 8.0% discount rate for the Mexican assets, which remains in- line with similar peers in equal geopolitical jurisdictions. Despite the decision to restart the Coricancha mine, we don’t plan on including it in our DCF until additional engineering and operation plans are executed.”,” the firm’s analyst wrote.

Several other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Great Panther Mining from a buy rating to a hold rating in a research report on Wednesday, July 31st. Noble Financial reiterated a buy rating and set a $1.25 target price on shares of Great Panther Mining in a research report on Sunday, May 19th.

NYSEAMERICAN:GPL opened at $0.77 on Monday. Great Panther Mining has a 52-week low of $0.54 and a 52-week high of $1.19.

Great Panther Mining (NYSEAMERICAN:GPL) (TSE:GPR) last posted its quarterly earnings data on Thursday, July 25th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter. The firm had revenue of $45.28 million for the quarter, compared to the consensus estimate of $50.92 million.

Several hedge funds have recently made changes to their positions in GPL. King Luther Capital Management Corp acquired a new position in shares of Great Panther Mining during the first quarter worth approximately $94,000. Millennium Management LLC acquired a new position in shares of Great Panther Mining during the fourth quarter worth approximately $159,000. Deutsche Bank AG lifted its position in shares of Great Panther Mining by 484.5% during the fourth quarter. Deutsche Bank AG now owns 239,826 shares of the basic materials company’s stock worth $170,000 after purchasing an additional 198,798 shares in the last quarter. Essex Investment Management Co. LLC lifted its position in shares of Great Panther Mining by 400.0% during the second quarter. Essex Investment Management Co. LLC now owns 500,000 shares of the basic materials company’s stock worth $427,000 after purchasing an additional 400,000 shares in the last quarter. Finally, ETF Managers Group LLC lifted its position in shares of Great Panther Mining by 94.0% during the second quarter. ETF Managers Group LLC now owns 844,911 shares of the basic materials company’s stock worth $727,000 after purchasing an additional 409,304 shares in the last quarter.

Great Panther Mining Company Profile

Great Panther Mining Limited operates as a precious metals mining and exploration company. It explores for silver, gold, lead, and zinc ores. The company operates three mines, including the Tucano gold mine in Amapá State, Brazil; and two silver mines in Mexico, as well as the Guanajuato mine complex and the Topia mine in Mexico.

Further Reading: Special Dividends

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