The stock of Great Panther Mining Limited (NYSE:GPL) is now priced at $1.01 and the shares are 0.03 points up or 3.08% higher compared to its previous closing price of $0.98. The stock had 2.592 million contracts set over the past session. GPL shares’ daily volume is compared to its average trading volume at 3.676 million shares. However, it has a float of 351 million and although its performance was -2.88% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the GPL share price recently placing at $1 to $1.02. However, some brokerage firms have priced the stock below the average, including one that has called $1.1.
The shorts are running away from the Great Panther Mining Limited stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the GPL shares have declined. Short interest in the stock represents just 0.63% of its float, but the volume has dropped by 0.
In the last trading session, Great Panther Mining Limited (NYSE:GPL) dropped by -$0.03 over the week and gained $0.1902 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $1.07. The stock recorded its established 52-week high on 08/18/20.
Since 03/16/20, the stock has traded to a low of $0.2261 at 346.7%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 2.06. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Great Panther Mining Limited’s two-week RSI is 60.9. This suggests that the stock is neutral at the moment and that GPL shares’ price movement remains stable. The stochastic readings are equally revealing at 66.48% meaning the GPL share price is currently in neutral territory.
The technical chart shows that the GPL stock will likely settle at between $1.021 and $1.0321 per share. However, if the stock dips below $0.9979, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.9859.
Currently, the stock is trading in the red of MACD, with a reading of -0.0059. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned GPL a rating of Buy in their intiating review released on August 10. H.C. Wainwright analysts see the stock as a Buy with a target price of $1.4 in a flash note released to investors on October 22 initiating covering the stock. Global Hunter Securities seeing the stock struggling downgraded it from Accumulate to Neutral on July 19 placing it at $3 to $2.25.
The average rating for the GPL equity is 2.25 and is currently gathering a bullish momentum. Of 3 analysts tracking Great Panther Mining Limited polled by Reuters, 0 rated GPL as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (3) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the GPL stock price is 4.59X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Great Panther Mining Limited (NYSE:GPL) will decrease by about -99.98%, which will see them reach $16.36 million. The company’s full-year revenues are, however, expected to increase by about 11.64%, up from $63.75 million to $71.17 million. GPL’s expected adjusted earnings should drop almost -100% to end up at $0 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 300% to record $0.04/share.