Golden Star Resources (NYSEAMERICAN:GSS) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Golden Star Resources (NYSEAMERICAN:GSS) from a hold rating to a buy rating in a research report sent to investors on Friday morning, Zacks.com reports. Zacks Investment Research currently has $5.50 price objective on the stock.

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 research analysts also recently weighed in on GSS. Desjardins assumed coverage on Golden Star Resources in a research note on Tuesday, September 8th. They issued a hold rating on the stock. HC Wainwright lifted their target price on Golden Star Resources from $5.25 to $6.75 and gave the company a buy rating in a research note on Monday, August 10th. National Bank Financial upgraded Golden Star Resources from a sector perform overweight rating to an outperform overweight rating in a research note on Thursday, July 30th. Finally, BMO Capital Markets upgraded Golden Star Resources from a market perform rating to an outperform rating in a research note on Wednesday, July 29th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Golden Star Resources presently has an average rating of Buy and a consensus target price of $6.13.

Shares of NYSEAMERICAN GSS opened at $4.73 on Friday. Golden Star Resources has a fifty-two week low of $1.85 and a fifty-two week high of $5.20.

Golden Star Resources (NYSEAMERICAN:GSS) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. The firm had revenue of $85.63 million for the quarter.

Hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Securities LLC bought a new position in Golden Star Resources in the 2nd quarter valued at approximately $32,000. Virtu Financial LLC bought a new position in Golden Star Resources in the 2nd quarter worth $90,000. Jane Street Group LLC bought a new position in Golden Star Resources in the 2nd quarter worth $108,000. Engineers Gate Manager LP bought a new position in Golden Star Resources in the 2nd quarter worth $207,000. Finally, Alps Advisors Inc. increased its stake in shares of Golden Star Resources by 76.5% in the 2nd quarter. Alps Advisors Inc. now owns 99,249 shares of the company’s stock worth $288,000 after acquiring an additional 43,008 shares in the last quarter.

Golden Star Resources Company Profile

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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