Golden Star Resources Ltd. (GSS) Stock Rating Upgraded by Zacks Investment Research
Golden Star Resources Ltd. (NYSE:GSS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
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. “
Several other analysts also recently commented on the stock. CIBC raised shares of Golden Star Resources from a “sector underperform” rating to a “sector perform” rating in a report on Thursday, August 25th. National Bank Financial reaffirmed an “outperform” rating on shares of Golden Star Resources in a report on Monday, June 27th.
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Golden Star Resources (NYSE:GSS) traded up 0.6826% on Wednesday, hitting $0.7375. 1,560,609 shares of the stock were exchanged. The firm’s market cap is $208.51 million. Golden Star Resources has a 12 month low of $0.14 and a 12 month high of $1.13. The company has a 50-day moving average of $0.75 and a 200 day moving average of $0.69.
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 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 business earned ($0.07) earnings per share. Equities research analysts expect that Golden Star Resources will post $0.04 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the company. Peak Asset Management LLC increased 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 during the period. Acadian Asset Management LLC purchased a new stake in shares of Golden Star Resources during the second quarter worth about $469,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Golden Star Resources during the second quarter worth about $896,000. Finally, Royal Bank of Canada increased its stake 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 during the period.
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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