Golden Star Resources Ltd. (NYSEMKT:GSS) (TSE:GSC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The firm currently has a $0.75 price target on the mining company’s stock. Zacks Investment Research‘s target price would indicate a potential downside of 2.15% from the company’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. “

Several other brokerages have also recently issued reports on GSS. BidaskClub raised shares of Golden Star Resources from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. Beacon Securities reaffirmed a “buy” rating on shares of Golden Star Resources in a research note on Wednesday, October 11th. ValuEngine raised shares of Golden Star Resources from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Desjardins started coverage on shares of Golden Star Resources in a research note on Friday, September 29th. They issued a “buy” rating on the stock. Finally, Scotiabank set a $1.00 price objective on shares of Golden Star Resources and gave the stock a “sector perform” rating in a research note on Saturday, September 23rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $1.15.

Shares of Golden Star Resources (NYSEMKT GSS) traded up 2.2000% on Monday, reaching $0.7665. 1,223,617 shares of the company’s stock traded hands. Golden Star Resources has a 52 week low of $0.59 and a 52 week high of $1.01. The firm’s market capitalization is $288.35 million. The company has a 50 day moving average price of $0.76 and a 200 day moving average price of $0.71.

Golden Star Resources (NYSEMKT:GSS) (TSE:GSC) last released its earnings results 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. On average, equities research analysts predict that Golden Star Resources will post $0.08 earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently made changes to their positions in the company. Alps Advisors Inc. acquired a new position in shares of Golden Star Resources in the second quarter worth about $540,000. AGF Investments Inc. acquired a new position in shares of Golden Star Resources in the second quarter worth about $966,000. Intact Investment Management Inc. boosted its holdings in shares of Golden Star Resources by 32.8% in the second quarter. Intact Investment Management Inc. now owns 5,089,900 shares of the mining company’s stock worth $4,326,000 after buying an additional 1,255,900 shares during the period. Sigma Planning Corp boosted its holdings in shares of Golden Star Resources by 55.9% in the second quarter. Sigma Planning Corp now owns 213,951 shares of the mining company’s stock worth $139,000 after buying an additional 76,683 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings 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.

About Golden Star Resources

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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Analyst Recommendations for Golden Star Resources (NYSEMKT:GSS)

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