Golden Star Resources Ltd. (NYSEAMERICAN:GSS) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 9,166,429 shares, a growth of 4.0% from the August 15th total of 8,812,477 shares. Approximately 4.3% of the shares of the company are sold short. Based on an average daily volume of 1,262,010 shares, the days-to-cover ratio is currently 7.3 days.
Hedge funds and other institutional investors have recently made changes to their positions in the business. First Allied Advisory Services Inc. raised its holdings in Golden Star Resources by 203.5% in the 1st quarter. First Allied Advisory Services Inc. now owns 217,000 shares of the company’s stock valued at $130,000 after acquiring an additional 145,500 shares in the last quarter. Sigma Planning Corp raised its holdings in Golden Star Resources by 41.6% in the 2nd quarter. Sigma Planning Corp now owns 268,617 shares of the company’s stock valued at $181,000 after acquiring an additional 78,924 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Golden Star Resources by 20.7% in the 1st quarter. JPMorgan Chase & Co. now owns 910,539 shares of the company’s stock valued at $534,000 after acquiring an additional 156,100 shares in the last quarter. Bank of Montreal Can raised its holdings in Golden Star Resources by 64.0% in the 2nd quarter. Bank of Montreal Can now owns 1,092,689 shares of the company’s stock valued at $738,000 after acquiring an additional 426,584 shares in the last quarter. Finally, GSA Capital Partners LLP raised its holdings in Golden Star Resources by 32.7% in the 1st quarter. GSA Capital Partners LLP now owns 1,303,116 shares of the company’s stock valued at $765,000 after acquiring an additional 321,100 shares in the last quarter.
NYSEAMERICAN GSS traded up $0.03 during midday trading on Wednesday, hitting $0.72. The company had a trading volume of 1,170,484 shares, compared to its average volume of 1,116,548. Golden Star Resources has a twelve month low of $0.56 and a twelve month high of $0.92.
Golden Star Resources (NYSEAMERICAN:GSS) last announced its quarterly earnings data on Wednesday, August 1st. The company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). The company had revenue of $77.12 million during the quarter. Golden Star Resources had a net margin of 15.61% and a return on equity of 1,299.50%.
Several analysts recently issued reports on GSS shares. Zacks Investment Research downgraded Golden Star Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, July 4th. Scotiabank upgraded Golden Star Resources from a “sector perform” rating to an “outperform” rating in a research note on Thursday, August 2nd. Finally, HC Wainwright set a $1.00 price target on Golden Star Resources and gave the company a “buy” rating in a research note on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $0.98.
About Golden Star Resources
Golden Star Resources Ltd. operates as a gold mining and exploration company. The company owns and operates the Wassa open-pit gold mine, the Wassa underground mine, and a carbon-in-leach processing plant located to the northeast of the town of Tarkwa, Ghana; and Bogoso gold mining and processing operation, Prestea open-pit mining operations, and the Prestea underground development project located near the town of Prestea, Ghana.
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