Golden Star Resources Ltd. (GSS) Short Interest Update
Golden Star Resources Ltd. (NYSE:GSS) saw a large increase in short interest in September. As of September 30th, there was short interest totalling 8,060,356 shares, an increase of 1.4% from the September 15th total of 7,947,330 shares. Currently, 2.5% of the company’s stock are sold short. Based on an average trading volume of 2,103,566 shares, the short-interest ratio is currently 3.8 days.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Peak Asset Management LLC raised 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 valued at $464,000 after buying an additional 700,000 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Golden Star Resources during the second quarter valued at about $469,000. Hillsdale Investment Management Inc. bought a new stake in shares of Golden Star Resources during the second quarter valued at about $896,000. Finally, Royal Bank of Canada raised 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 valued at $2,105,000 after buying an additional 3,255,227 shares during the period.
GSS has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Golden Star Resources from a “hold” rating to a “strong-buy” rating and set a $0.75 target price on the stock in a report on Tuesday, June 14th. CIBC upgraded shares of Golden Star Resources from a “sector underperform” rating to a “sector perform” rating in a report on Thursday, August 25th. Finally, National Bank Financial reissued an “outperform” rating on shares of Golden Star Resources in a research report on Monday, June 27th.
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Golden Star Resources (NYSE:GSS) traded up 0.1595% during mid-day trading on Tuesday, hitting $0.7535. 818,179 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $0.75 and its 200-day moving average price is $0.69. Golden Star Resources has a one year low of $0.14 and a one year high of $1.13. The stock’s market cap is $213.03 million.
Golden Star Resources (NYSE:GSS) last posted its quarterly earnings results 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 earned $51.46 million during the quarter, compared to analyst estimates of $58.35 million. During the same quarter in the previous year, the company posted ($0.07) EPS. On average, analysts forecast that Golden Star Resources will post $0.04 EPS for the current fiscal year.
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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