Short Interest in Golden Star Resources Ltd. (GSS) Increases By 36.0%
Golden Star Resources Ltd. (NYSE:GSS) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 7,947,330 shares, a growth of 36.0% from the August 31st total of 5,844,961 shares. Based on an average daily volume of 1,657,765 shares, the days-to-cover ratio is currently 4.8 days. Approximately 2.4% of the shares of the company are sold short.
GSS has been the topic of a number of analyst reports. Zacks Investment Research downgraded Golden Star Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, September 13th. CIBC upgraded Golden Star Resources from a “sector underperform” rating to a “sector perform” rating in a research note on Thursday, August 25th. Finally, National Bank Financial restated an “outperform” rating on shares of Golden Star Resources in a research note on Monday, June 27th.
Shares of Golden Star Resources (NYSE:GSS) opened at 0.843 on Thursday. The stock’s market capitalization is $238.34 million. The company has a 50 day moving average price of $0.75 and a 200-day moving average price of $0.67. Golden Star Resources has a 1-year low of $0.14 and a 1-year high of $1.13.
Golden Star Resources (NYSE:GSS) last released its quarterly earnings results on Monday, July 25th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.08. The firm had revenue of $51.46 million for the quarter, compared to analyst estimates of $58.35 million. During the same quarter in the prior year, the company earned ($0.07) EPS. On average, equities research analysts forecast that Golden Star Resources will post $0.05 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the stock. Peak Asset Management LLC raised its stake in Golden Star Resources by 3,500.0% in the second quarter. Peak Asset Management LLC now owns 720,000 shares of the company’s stock worth $464,000 after buying an additional 700,000 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Golden Star Resources during the second quarter worth about $469,000. Hillsdale Investment Management Inc. purchased a new stake in Golden Star Resources during the second quarter worth about $896,000. Finally, Royal Bank of Canada raised its stake in Golden Star Resources by 40,074.2% in the second quarter. Royal Bank of Canada now owns 3,263,350 shares of the company’s stock worth $2,105,000 after buying an additional 3,255,227 shares in the last quarter.
Golden Star Resources Company Profile
Golden Star Resources Ltd. is a gold mining and exploration company. The Company’s segments include Wassa, Bogoso/Prestea and Other. The Company holds interest in the Wassa and Bogoso/Prestea gold mines in Ghana. The Company is pursuing brownfield development projects at its Wassa and Prestea mines. The Company holds interests in gold exploration projects in Ghana and other parts of West Africa.
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