Global Hunter Securities Downgrades Great Panther Silver Limited (GPL) to Neutral; Silver Slumps and Management Reshuffle

Global Hunter Securities downgraded Great Panther Silver Limited (NYSE: GPL) from Accumulate to Neutral with a price target of $2.25 (from $3.00).

Analyst, Jeff Wright, highlights two key points including: 1) Management reshuffle creates concern to advance into mid-tier silver producer. The announced transitions in management give us pause as to whether GPL can execute on its organic growth plan in Mexico and evolve into a mid-tier primary silver producer in the next 2-3 years; and 2) Weakness in silver markets do not help situation. The silver market's recent sluggishness and price depreciation do not help GPL and increase the risk if there is a shortfall in production or results going forward. With this decrease in the margin for error, at this time we believe GPL does not warrant a premium valuation relative to its peer group."

For an analyst ratings summary and ratings history on Great Panther Silver Limited click here. For more ratings news on Great Panther Silver Limited click here.

Shares of Great Panther Silver Limited closed at $1.67 yesterday.

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