H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on Great Panther Silver (GPL) today and set a price target of $1.50. The company’s shares closed yesterday at $0.92.
Ihle observed:
“We reiterate our Buy rating and our per share PT of $1.50. Despite adding the Tucano Mine to our DCF analysis utilizing an 8% discount rate, our valuation has remained flat as we have conservatively forecasted production of 145,000 ounces of gold at the site for FY19. While this is at the low-end of guidance, we anticipate revising these estimates upwards should the company start to achieve the operational performance that management expects. Our valuation remains based on a NAV methodology, utilizing an 8.0% discount rate for the Mexican assets. This figure is in line with similar peers in equal jurisdictions.”
According to TipRanks.com, Ihle is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -1.8% and a 44.1% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Great Panther Silver with a $1.55 average price target.
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The company has a one-year high of $1.32 and a one-year low of $0.54. Currently, Great Panther Silver has an average volume of 983K.
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Great Panther Mining Ltd. engages in the mining and exploration of precious materials. Its project includes El Horcon and Santa Rosa. The company was founded by Robert Alexander Archer on November 30, 1965 and is headquartered in Vancouver, Canada.
