Golden Star Resources (NYSEAMERICAN:GSS) Rating Increased to Buy 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 report released on Friday morning, Zacks.com reports. Zacks Investment Research currently has $5.50 target price 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. “

Other equities analysts have also issued research reports about the stock. HC Wainwright boosted their price objective on shares of Golden Star Resources from $5.25 to $6.75 and gave the company a buy rating in a research report on Monday, August 10th. BMO Capital Markets upgraded shares of Golden Star Resources from a market perform rating to an outperform rating in a report on Wednesday, July 29th. National Bank Financial upgraded shares of Golden Star Resources from a sector perform overweight rating to an outperform overweight rating in a research note on Thursday, July 30th. Finally, Desjardins initiated coverage on shares of Golden Star Resources in a research note on Tuesday, September 8th. They set a hold rating for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Golden Star Resources has a consensus rating of Buy and a consensus target price of $6.13.

Shares of NYSEAMERICAN GSS opened at $4.49 on Friday. Golden Star Resources has a 52 week low of $1.85 and a 52 week high of $5.20.

Golden Star Resources (NYSEAMERICAN:GSS) last announced its earnings results on Tuesday, July 28th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $85.63 million for the quarter.

Several large investors have recently modified their holdings of GSS. GSA Capital Partners LLP raised its holdings in shares of Golden Star Resources by 88.0% during the first quarter. GSA Capital Partners LLP now owns 244,398 shares of the company’s stock worth $609,000 after purchasing an additional 114,432 shares during the period. Engineers Gate Manager LP bought a new position in shares of Golden Star Resources during the second quarter worth about $207,000. Alps Advisors Inc. grew its position in shares of Golden Star Resources by 76.5% during the second quarter. Alps Advisors Inc. now owns 99,249 shares of the company’s stock worth $288,000 after acquiring an additional 43,008 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Golden Star Resources during the second quarter worth about $108,000. Finally, Virtu Financial LLC bought a new position in shares of Golden Star Resources during the second quarter worth about $90,000.

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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