On March 10, Great Panther Mining Ltd. (GPL) stock surged in the after-hours to reach a value of $0.38 per share. With the hike in the precious metal prices including gold, mining stocks have been under focus recently. The recent price hike of Nickel and Gold seems to have resulted in the upsurge of GPL on Thursday.
In the regular trading session, the stock remained in the green with a day range of $0.31-$0.34. The stock closed the session at a value of $0.34 while 12.44 million shares exchanged hands. The day’s volume remained above the average at 296%. In the following after-hours session, the bullish momentum of the stock increased as it added a further 10.47%.
The precious materials miner and explorer, Great Panther Mining Ltd. was founded in 1965. Currently, the company has a market capitalization of $145.98 million with 445.43 million shares outstanding.
What’s Going on?
Several industries have been in the crosshairs of investors recently due to the ongoing uncertainty in the market thanks to the Russia-Ukraine conflict. The increasing sanction on Russian imports including oil and energy, have the oil and energy prices skyrocketing. Furthermore, precious metals have also been on an uptrend as of recently. This has resulted in investors being interested in mining and metal stocks. Thus, it seems the recent price hike in metal prices including gold was the reason for GPL’s big move on Thursday.
So far 2022 has proved very fruitful for GPL. In the past five days alone, the stock has increased by 38.78% while adding 55.11% year to date. The stock suffered a loss of 60.13$ in the past year.
GPL’s 2021 Financial Results
On March 02, the company declared its financial results for Q4 and fiscal 2021, ended on December 31, 2021,
Q4 2021
In Q4 2021, the company produced 24,284 Au eq oz of metals, while the revenue decreased by 38% YOY to $42.7 million.
Furthermore, GPL incurred a net loss of $13.8 million in the quarter, against a net income of $13.6 million in the year-ago period.
Additionally, the EBITDA was $(5.2) million in Q4 2021 against $27.2 million in Q4 2020.
GPL’s Fiscal 2021
For fiscal 2021, the company reported 105,006 Au eq oz of metal production while the revenue was $185.7 million (29% YOY decline).
The company had a net loss of $42.2 million in fiscal 2021, against a net income of $0.3 million in fiscal 2020.
In addition, the EBITDA declined to $(5.8) million in fiscal 2021, against $51.1 million in the previous year.
