GPL - Research - Great Panther Mining Limited (GPL) - GPL Cuts 2019 Production Guidance Again; Lowering Rating to Market Perform

Production guidance lowered. Management lowered its 2019 production guidance for thesecond time and now expects full-year production of 142,000 to 149,000 gold equivalentounces compared to previous guidance of 150,000 to 160,000 gold equivalent ounces. TheTucano mine is now expected to produce between 31,000 and 33,000 gold ounces duringthe 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 andEBITDA estimates have also been lowered to $0.04 and $58.0 million from $0.06 and $64.6million, respectively. Our revised estimates reflect lower production and higher costs. Read More >>