Golden Star Resources Ltd. (NYSEMKT:GSS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday. The brokerage presently has a $0.75 price target on the mining company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 6.23% from the stock’s current price.

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. ValuEngine lowered Golden Star Resources from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Scotiabank set a $1.00 price objective on Golden Star Resources and gave the company a “sector perform” rating in a report on Friday, July 7th. Finally, Clarus Securities reissued a “buy” rating on shares of Golden Star Resources in a report on Thursday, May 4th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $1.15.

Shares of Golden Star Resources (NYSEMKT:GSS) traded up 3.824% during midday trading on Monday, reaching $0.706. The company’s stock had a trading volume of 1,194,182 shares. Golden Star Resources has a 52 week low of $0.59 and a 52 week high of $1.01. The firm’s 50 day moving average is $0.65 and its 200 day moving average is $0.76. The firm’s market capitalization is $265.57 million.

Golden Star Resources (NYSEMKT:GSS) last issued its quarterly earnings data on Tuesday, August 1st. The mining company reported $0.02 EPS for the quarter. The company had revenue of $77.34 million for the quarter. Equities analysts forecast that Golden Star Resources will post $0.06 EPS for the current fiscal year.

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Institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its position in shares of Golden Star Resources by 18.0% in the first quarter. Bank of New York Mellon Corp now owns 125,280 shares of the mining company’s stock worth $106,000 after buying an additional 19,121 shares during the period. Sigma Planning Corp raised its position in shares of Golden Star Resources by 12.8% in the first quarter. Sigma Planning Corp now owns 137,268 shares of the mining company’s stock worth $116,000 after buying an additional 15,555 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Golden Star Resources during the fourth quarter worth about $165,000. Goldman Sachs Group Inc. raised its position in shares of Golden Star Resources by 26.4% in the first quarter. Goldman Sachs Group Inc. now owns 279,960 shares of the mining company’s stock worth $237,000 after buying an additional 58,510 shares during the period. Finally, Global X Management Co. LLC raised its position in shares of Golden Star Resources by 224.2% in the first quarter. Global X Management Co. LLC now owns 307,160 shares of the mining company’s stock worth $260,000 after buying an additional 212,412 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, Other and Corporate. The Company, through its subsidiary, Golden Star (Wassa) Limited, owns and operates the Wassa open-pit gold mine, the Wassa underground mine and a carbon-in-leach (CIL) processing plant (Wassa).

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