Zacks Investment Research cut shares of Golden Star Resources (NYSEAMERICAN:GSS) from a hold rating to a sell rating in a report issued on Tuesday.

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. “

GSS has been the topic of a number of other research reports. HC Wainwright set a $1.00 price objective on shares of Golden Star Resources and gave the stock a buy rating in a report on Thursday, August 2nd. Scotiabank upgraded shares of Golden Star Resources from a sector perform rating to an outperform rating in a report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $0.98.

Shares of NYSEAMERICAN GSS opened at $0.72 on Tuesday. Golden Star Resources has a 1 year low of $0.56 and a 1 year high of $0.92.

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

Several hedge funds and other institutional investors have recently modified their holdings of GSS. ASA Gold & Precious Metals Ltd bought a new position in shares of Golden Star Resources in the second quarter worth approximately $1,958,000. United Services Automobile Association lifted its position in Golden Star Resources by 21.4% during the second quarter. United Services Automobile Association now owns 9,600,000 shares of the company’s stock valued at $6,480,000 after purchasing an additional 1,692,600 shares during the period. Van ECK Associates Corp lifted its position in Golden Star Resources by 4.0% during the second quarter. Van ECK Associates Corp now owns 29,391,024 shares of the company’s stock valued at $19,839,000 after purchasing an additional 1,134,333 shares during the period. AGF Investments Inc. lifted its position in Golden Star Resources by 35.1% during the second quarter. AGF Investments Inc. now owns 2,498,900 shares of the company’s stock valued at $1,711,000 after purchasing an additional 648,600 shares during the period. Finally, Bank of Montreal Can lifted its position in Golden Star Resources by 64.0% during the second quarter. Bank of Montreal Can now owns 1,092,689 shares of the company’s stock valued at $738,000 after purchasing an additional 426,584 shares during the period.

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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