Short Interest in Golden Star Resources Ltd. (GSS) Rises By 2.2%

Golden Star Resources Ltd. (NYSEAMERICAN:GSS) saw a large growth in short interest during the month of September. As of September 14th, there was short interest totalling 9,371,344 shares, a growth of 2.2% from the August 31st total of 9,166,429 shares. Currently, 4.4% of the shares of the company are sold short. Based on an average daily volume of 571,920 shares, the short-interest ratio is presently 16.4 days.

Several research analysts have recently weighed in on GSS shares. HC Wainwright set a $1.00 price objective on shares of Golden Star Resources and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Zacks Investment Research lowered shares of Golden Star Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, September 11th. Finally, Scotiabank upgraded shares of Golden Star Resources from a “sector perform” rating to an “outperform” rating in a research note on Thursday, August 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Golden Star Resources has an average rating of “Buy” and a consensus target price of $0.98.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp grew its stake in Golden Star Resources by 2.1% in the 1st quarter. Van ECK Associates Corp now owns 28,256,691 shares of the company’s stock valued at $16,587,000 after buying an additional 569,814 shares during the last quarter. Franklin Resources Inc. grew its stake in Golden Star Resources by 0.7% in the 1st quarter. Franklin Resources Inc. now owns 22,091,667 shares of the company’s stock valued at $12,968,000 after buying an additional 150,000 shares during the last quarter. AGF Investments Inc. grew its stake in Golden Star Resources by 35.1% in the 2nd quarter. AGF Investments Inc. now owns 2,498,900 shares of the company’s stock valued at $1,711,000 after buying an additional 648,600 shares during the last quarter. Bank of Montreal Can grew its stake 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 buying an additional 426,584 shares during the last quarter. Finally, First Allied Advisory Services Inc. grew its stake 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 buying an additional 145,500 shares during the last quarter.

Shares of GSS opened at $0.75 on Thursday. Golden Star Resources has a 52 week low of $0.56 and a 52 week high of $0.92.

Golden Star Resources (NYSEAMERICAN:GSS) last announced its quarterly earnings results on Wednesday, August 1st. The company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.01). Golden Star Resources had a net margin of 15.61% and a return on equity of 1,299.50%. The company had revenue of $77.12 million during the quarter.

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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