Golden Star Resources Ltd. (GSS) Upgraded to Hold at Zacks Investment Research
According to Zacks, “GOLDEN STAR RES is an un-hedged gold producer they own the Wassa gold project in Ghana and control a number of gold exploration properties in West Africa. The Company is well funded and has strong, operational focused management experienced in West Africa. The Company has become a producing gold company by consolidating a long-lived production base at Bogoso/Prestea in Ghana. Going forward, the Company will continue to focus on growing its gold business. “
GSS has been the topic of several other research reports. CIBC upgraded Golden Star Resources from a sector underperform rating to a sector perform rating in a report on Thursday, August 25th. National Bank Financial restated an outperform rating on shares of Golden Star Resources in a report on Monday, June 27th.
Shares of Golden Star Resources (NYSE:GSS) traded down 2.458% during midday trading on Wednesday, hitting $0.754. The company had a trading volume of 250,516 shares. Golden Star Resources has a 52 week low of $0.14 and a 52 week high of $1.13. The firm’s 50 day moving average is $0.76 and its 200 day moving average is $0.69. The company’s market capitalization is $213.18 million.
Golden Star Resources (NYSE:GSS) last released its quarterly earnings data on Monday, July 25th. The company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.08. The firm earned $51.46 million during the quarter, compared to analysts’ expectations of $58.35 million. During the same quarter in the prior year, the company posted ($0.07) EPS. Equities research analysts anticipate that Golden Star Resources will post $0.05 EPS for the current year.
Hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada boosted 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 valued at $2,105,000 after buying an additional 3,255,227 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Golden Star Resources during the second quarter worth approximately $896,000. Peak Asset Management LLC boosted its stake in shares of 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. Finally, Acadian Asset Management LLC bought a new stake in shares of Golden Star Resources during the second quarter worth approximately $469,000.
About Golden Star Resources
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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