Golden Star Resources (NYSEAMERICAN:GSS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

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. HC Wainwright set a $1.00 target price on shares of Golden Star Resources and gave the stock a “buy” rating in a research note on Friday, September 21st. Scotiabank raised shares of Golden Star Resources from a “sector perform” rating to an “outperform” rating in a research note on Thursday, August 2nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $0.98.

GSS stock opened at $0.74 on Wednesday. Golden Star Resources has a one year low of $0.56 and a one year high of $0.92.

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

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Allied Advisory Services Inc. increased its stake in shares of Golden Star Resources by 203.5% in the first quarter. First Allied Advisory Services Inc. now owns 217,000 shares of the company’s stock worth $130,000 after buying an additional 145,500 shares during the period. Sigma Planning Corp increased its stake in shares of Golden Star Resources by 41.6% in the second quarter. Sigma Planning Corp now owns 268,617 shares of the company’s stock worth $181,000 after buying an additional 78,924 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Golden Star Resources by 20.7% in the first quarter. JPMorgan Chase & Co. now owns 910,539 shares of the company’s stock worth $534,000 after buying an additional 156,100 shares during the period. Bank of Montreal Can increased its stake in shares of Golden Star Resources by 64.0% in the second quarter. Bank of Montreal Can now owns 1,092,689 shares of the company’s stock worth $738,000 after buying an additional 426,584 shares during the period. Finally, GSA Capital Partners LLP increased its stake in shares of Golden Star Resources by 32.7% in the first quarter. GSA Capital Partners LLP now owns 1,303,116 shares of the company’s stock worth $765,000 after buying an additional 321,100 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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