It’s been a volatile couple of months for most gold producers as the correction in the price of gold (GLD) has taken a bite out of many miners’ share prices. Great Panther Mining (NYSEMKT:GPL) is one of the names that has run into some selling pressure with the stock correcting 25% from its August highs. While this has likely left some investors that overpaid for the stock frustrated, the good news is that the stock just came off another solid quarter, with quarterly production of 39,800~ gold-equivalent ounces (GEOs). Given the higher metals prices and improved operations this year, we’ve seen analysts pull their earnings estimates higher, with FY2021 annual EPS estimates now sitting at $0.21. While I see more attractive producers elsewhere in the sector, I see Great Panther as a Speculative Buy at $0.72, given its very reasonable valuation.

(Source: Company Website)

Great Panther Mining released its preliminary Q3 production results last week and reported quarterly production of 39,800~ GEOs, a 3% increase from the 38,500~ GEOs produced last quarter. The company’s flagship Tucano Mine has now produced 93,400 ounces of gold year-to-date, and the mine remains on track to meet its FY2020 production guidance midpoint of 125,000 ounces. While the share price has been under pressure recently due to the sector-wide slump, it’s worth noting that Great Panther has only gotten more attractive as earnings estimates have continued to climb over the past two months. Based on current estimates of $0.21 for FY2021, the stock is trading at just below 5x FY2021 annual EPS estimates. Let’s take a closer look at the most recent quarter below:

(Source: Company News Release)

Beginning with the company’s Tucano Mine in Brazil, it was a relatively soft quarter, with gold production coming in at 31,800~ ounces vs. 35,400~ ounces

TOKYO – Stocks rose on Monday as signs that President Donald Trump’s health was improving eased some of the political uncertainty caused by his coronavirus infection, which sent investors rushing for safety last week.

Trump, 74, was flown to hospital for treatment for the coronavirus on Friday, but his doctors say he has responded well and could return to the White House on Monday.

That helped U.S. S&P 500 e-mini futures EScv1 rise 0.62%, while Nasdaq futures NQc1 gained 0.89%.

STOCKS RISE AHEAD OF SEPTEMBER JOBS REPORT AND ONGOING STIMULUS TALKS

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 1.08%. Euro Stoxx 50 futures STXEc1 were up 0.82%, German DAX futures FDXc1 rose 0.72%, and FTSE futures FFIc1 gained by 0.91%.

Overhanging the relief rally, however, are continued uncertainty about his condition and some concerns that Trump’s case could be more severe than public disclosures suggest.

“Equities and other risk-on traders should be well-supported by easing concerns about Trump’s health,” said Junichi Ishikawa, senior currency strategist at IG Securities in Tokyo.

“For the dollar, the impact is not quite as clear cut. It should fall against most currencies due to an increase in risk appetite, but the yen is also weak, and that’s the one currency the dollar can rise against.”

Australian stocks .AXJO jumped 2.48% for the biggest daily gain since July 21. Japan’s Nikkei .N225 rose 1.19%. China’s financial markets are closed for a public holiday.

The dollar edged higher against the yen but fell slightly against the Swiss franc as traders jockeyed for position ahead of what could be a volatile day in global markets.

Treasury yields rose slightly on reduced demand for the safety of holding government debt.

MILLIONS OF AMERICANS

TOKYO (Reuters) – Stocks rose on Monday as signs that President Donald Trump’s health was improving eased some of the political uncertainty caused by his coronavirus infection, which sent investors rushing for safety last week.

FILE PHOTO: The New York Stock Exchange is pictured in the Manhattan borough of New York City, New York, U.S., October 2, 2020. REUTERS/Carlo Allegri/File Photo

Trump, 74, was flown to hospital for treatment for the coronavirus on Friday, but his doctors say he has responded well and could return to the White House on Monday.

That helped U.S. S&P 500 e-mini futures EScv1 rise 0.62%, while Nasdaq futures NQc1 gained 0.89%.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 1.08%. Euro Stoxx 50 futures STXEc1 were up 0.82%, German DAX futures FDXc1 rose 0.72%, and FTSE futures FFIc1 gained by 0.91%.

Overhanging the relief rally, however, are continued uncertainty about his condition and some concerns that Trump’s case could be more severe than public disclosures suggest.

“Equities and other risk-on traders should be well-supported by easing concerns about Trump’s health,” said Junichi Ishikawa, senior currency strategist at IG Securities in Tokyo.

“For the dollar, the impact is not quite as clear cut. It should fall against most currencies due to an increase in risk appetite, but the yen is also weak, and that’s the one currency the dollar can rise against.”

Australian stocks .AXJO jumped 2.48% for the biggest daily gain since July 21. Japan’s Nikkei .N225 rose 1.19%. China’s financial markets are closed for a public holiday.

The dollar edged higher against the yen but fell slightly against the Swiss franc as traders jockeyed for position ahead of what could be a volatile day in global markets.

Treasury yields rose slightly on reduced demand for the safety of holding government debt.

TOKYO (Reuters) – Stock markets rose on Monday on hopes that President Donald Trump could be discharged from hospital later in the day, easing some of the political uncertainty that shook global bourses in the previous session.

FILE PHOTO: People are reflected on a glass in front of a large screen showing stock prices at the Tokyo Stock Exchange after market opens in Tokyo, Japan October 2, 2020. REUTERS/Kim Kyung-Hoon/File photo

Trump, 74, was flown to hospital for treatment for the coronavirus on Friday, but his doctors say he has responded well and could return to the White House on Monday.

That helped U.S. S&P 500 e-mini futures rise 0.82% in Asian trading, while Nasdaq futures gained 1.11%.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.63%.

Australian stocks jumped 2.37% for the biggest daily gain in almost two weeks. Japan’s Nikkei rose 1.39%. China’s financial markets are closed for a public holiday.

“Equities and other risk-on traders should be well supported by easing concerns about Trump’s health,” said Junichi Ishikawa, senior currency strategist at IG Securities in Tokyo.

“For the dollar, the impact is not quite as clear cut. It should fall against most currencies due to an increase in risk appetite, but the yen is also weak, and that’s the one currency the dollar can rise against.”

The dollar edged higher against the yen but fell slightly against the Swiss franc as traders jockeyed for position ahead of what could be a volatile day in global markets.

Treasury yields rose slightly on reduced demand for the safety of holding government debt.

Doctors treating Trump say they are pleased with his progress. Relief about his health could fuel a rally in equities and other risky assets as investors prepare for the run-up to next month’s U.S. presidential election.

Video: Stocks slide after Trump diagnosed with coronavirus (Reuters)

Stocks slide after Trump diagnosed with coronavirus

UP NEXT

UP NEXT

By Stanley White



text, whiteboard: FILE PHOTO: Passersby wearing protective masks stand in front of an electronic board showing Japan's Nikkei average outside a brokerage, in Tokyo


© Reuters/ISSEI KATO
FILE PHOTO: Passersby wearing protective masks stand in front of an electronic board showing Japan’s Nikkei average outside a brokerage, in Tokyo

TOKYO (Reuters) – Stock markets rose on Monday on hopes that President Donald Trump could be discharged from hospital later in the day, easing some of the political uncertainty that shook global bourses in the previous session.

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Trump, 74, was flown to hospital for treatment for the coronavirus on Friday, but his doctors say he has responded well and could return to the White House on Monday.

That helped U.S. S&P 500 e-mini futures rise 0.82% in Asian trading, while Nasdaq futures gained 1.11%.

MSCI’s broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> rose 0.63%.

Australian stocks <.axjo> jumped 2.37% for the biggest daily gain in almost two weeks. Japan’s Nikkei <.n225> rose 1.39%. China’s financial markets are closed for a public holiday.

“Equities and other risk-on traders should be well supported by easing concerns about Trump’s health,” said Junichi Ishikawa, senior currency strategist at IG Securities in Tokyo.

“For the dollar, the impact is not quite as clear cut. It should fall against most currencies due to an increase in risk appetite, but the yen is also weak, and that’s the one currency the dollar can rise against.”

The dollar edged higher against the yen but fell slightly against the Swiss franc as traders jockeyed for position ahead of what could be a volatile day in global markets.

Treasury yields rose slightly on reduced demand for the safety of holding government debt.

Doctors treating Trump say they are pleased with his progress. Relief about his health could fuel a rally in