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Miserable Performance In Great Panther Mining - A Trading Sardine


  • Bull markets in precious metals.
  • A bear market in GPL shares.
  • Brazilian production costs should benefit the shares.
  • The stock is a trading sardine.
  • An example of why a diversified approach in junior miners makes sense.
  • Looking for more stock ideas like this one? Get them exclusively at Hecht Commodity Report. Get started today »

Gold has been moving aggressively higher since breaking to the upside above the July 2016 high at $1377.50 last June. The most recent high in the yellow metal came on Sunday night, March 8, at $1704.30 per ounce as gold touched a level that was $326.80 or 23.7% above its level of critical technical resistance. Silver has also moved higher over the past months, but it has not managed to challenge its resistance level, which stands at $21.095, the July 2016 high. Silver only made it up to a peak of $19.54 last September. While gold was trading at the $1657 level on the nearby futures contract on March 10, silver was at $16.85 per ounce. Silver has been trending higher since late May but shares of Great Panther Mining Limited (GPL) have moved lower. Silver underperformed gold, and GPL shares have not followed silver higher. The company has silver and precious metals projects in Mexico, Brazil, and Canada. If GPL cannot move higher in the current environment, there may be no hope for the company.

Bull markets in precious metals

The prices of the four precious metals that trade on the COMEX and NYMEX divisions of the Chicago Mercantile Exchange have been trending higher.

Source: CQG

Since reaching a low of $1161.40 per ounce in August 2018, gold has moved over 42% higher as of March 10. The yellow metal rose above its July 2016 high and level of critical technical resistance in June 2019 at $1377.50 per ounce. The latest high took the price above the $1700 level for the first time since 2012.

Source: CQG

Silver fell to a low of $13.86 in November 2018. While the silver market has yet to challenge its 2016 high and level of technical resistance at $21.095 per ounce, the price was over 21% higher at

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This article was written by

Andrew Hecht profile picture

Andrew Hecht is a 35-year Wall Street veteran covering commodities and precious metals.

He runs the investing group The Hecht Commodity Report, one of the most comprehensive commodities services available. It covers the market movements of 20 different commodities and provides bullish, bearish and neutral calls; directional trading recommendations, and actionable ideas for traders. Learn more.

Analyst’s Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

The author always has positions in commodities markets in futures, options, ETF/ETN products, and commodity equities. These long and short positions tend to change on an intraday basis.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (5)

Not much analysis beyond what can be determine by a gold chart laid over a gpl chart
jimbo6169 profile picture
How is the management compensation going?
if gold price continues to rise , gpl's gold revenue will rise significantly. remember it's now largely a gold miner.so I will be picking up more at 10% lower so from here.
Why is silver lagging so badly behind gold?
I own GPL and am under water. Sardines anyone?
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