Zacks Investment Research cut shares of Golden Star Resources Ltd. (NYSE:GSS) from a hold rating to a sell rating in a research report released on Friday.

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. “

Other analysts have also issued reports about the company. National Bank Financial restated an outperform rating on shares of Golden Star Resources in a research note on Monday, June 27th. CIBC upgraded Golden Star Resources from a sector underperform rating to a sector perform rating in a research note on Thursday, August 25th.

Shares of Golden Star Resources (NYSE:GSS) traded down 1.28% during trading on Friday, hitting $0.77. The company had a trading volume of 207,119 shares. The stock has a 50-day moving average of $0.76 and a 200 day moving average of $0.70. Golden Star Resources has a 12-month low of $0.14 and a 12-month high of $1.13. The stock’s market capitalization is $217.70 million.

Golden Star Resources (NYSE:GSS) last issued its earnings results on Monday, July 25th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.08. The business earned $51.46 million during the quarter, compared to analysts’ expectations of $58.35 million. During the same quarter in the previous year, the firm posted ($0.07) EPS. On average, analysts predict that Golden Star Resources will post $0.04 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its position in shares of 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. Hillsdale Investment Management Inc. purchased a new position in Golden Star Resources during the second quarter worth about $896,000. Acadian Asset Management LLC purchased a new position in Golden Star Resources during the second quarter worth about $469,000. Peak Asset Management LLC boosted its position 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 during the last quarter. Finally, Creative Planning boosted its position in Golden Star Resources by 64.1% in the third quarter. Creative Planning now owns 392,660 shares of the company’s stock worth $330,000 after buying an additional 153,410 shares during 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.

5 Day Chart for NYSE:GSS

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