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 also recently commented on GSS. TheStreet downgraded shares of Golden Star Resources from a “c-” rating to a “d+” rating in a research report on Friday, August 9th. Beacon Securities downgraded shares of Golden Star Resources from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, HC Wainwright restated a “buy” rating and set a $3.80 price objective on shares of Golden Star Resources in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Golden Star Resources presently has a consensus rating of “Hold” and an average target price of $5.18.
Golden Star Resources (NYSEAMERICAN:GSS) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.03). The business had revenue of $61.92 million for the quarter.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Invesco Ltd. bought a new stake in shares of Golden Star Resources in the second quarter worth $10,742,000. Tocqueville Asset Management L.P. grew its stake in shares of Golden Star Resources by 465.4% in the second quarter. Tocqueville Asset Management L.P. now owns 1,567,400 shares of the company’s stock worth $6,317,000 after purchasing an additional 1,290,200 shares during the last quarter. Morgan Stanley grew its stake in shares of Golden Star Resources by 33.9% in the second quarter. Morgan Stanley now owns 1,266,875 shares of the company’s stock worth $5,106,000 after purchasing an additional 320,622 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Golden Star Resources in the second quarter worth $435,000. Finally, Marshall Wace LLP bought a new stake in shares of Golden Star Resources in the second quarter worth $363,000.
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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