Golden Star Resources Ltd. (NYSEMKT:GSS) (TSE:GSC) was downgraded by Zacks Investment Research from a “strong-buy” 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. “

Other equities analysts also recently issued reports about the company. Scotiabank set a $1.00 price objective on Golden Star Resources and gave the stock a “sector perform” rating in a report on Friday, July 7th. ValuEngine cut Golden Star Resources from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. BidaskClub cut Golden Star Resources from a “sell” rating to a “strong sell” rating in a report on Monday, September 18th. Finally, Desjardins started coverage on shares of Golden Star Resources in a research report on Friday, September 29th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Golden Star Resources currently has a consensus rating of “Hold” and an average target price of $1.15.

Shares of Golden Star Resources (GSS) opened at 0.7587 on Wednesday. The company has a 50-day moving average of $0.74 and a 200 day moving average of $0.72. The firm’s market cap is $285.41 million. Golden Star Resources has a 12-month low of $0.59 and a 12-month high of $1.01.

Golden Star Resources (NYSEMKT:GSS) (TSE:GSC) last issued its quarterly earnings results on Tuesday, August 1st. The mining company reported $0.02 EPS for the quarter. The company had revenue of $77.34 million for the quarter. Equities research analysts anticipate that Golden Star Resources will post $0.07 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This story was originally posted by Watch List News and is owned by of Watch List News. If you are viewing this story on another domain, it was copied illegally and republished in violation of U.S. & international copyright & trademark legislation. The original version of this story can be viewed at https://www.watchlistnews.com/golden-star-resources-ltd-gss-lowered-to-hold-at-zacks-investment-research/1606358.html.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Golden Star Resources by 18.0% during the first quarter. Bank of New York Mellon Corp now owns 125,280 shares of the mining company’s stock valued at $106,000 after purchasing an additional 19,121 shares during the period. Zacks Investment Management acquired a new position in shares of Golden Star Resources during the second quarter worth $123,000. Sigma Planning Corp boosted its stake in shares of Golden Star Resources by 55.9% in the second quarter. Sigma Planning Corp now owns 213,951 shares of the mining company’s stock valued at $139,000 after purchasing an additional 76,683 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Golden Star Resources by 26.4% in the first quarter. Goldman Sachs Group Inc. now owns 279,960 shares of the mining company’s stock valued at $237,000 after purchasing an additional 58,510 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Golden Star Resources by 35,747.9% in the second quarter. JPMorgan Chase & Co. now owns 382,139 shares of the mining company’s stock valued at $248,000 after purchasing an additional 381,073 shares during the period.

About Golden Star Resources

Golden Star Resources Ltd. is a gold mining and exploration company. The Company’s segments include Wassa, Bogoso/Prestea, Other and Corporate. The Company, through its subsidiary, Golden Star (Wassa) Limited, owns and operates the Wassa open-pit gold mine, the Wassa underground mine and a carbon-in-leach (CIL) processing plant (Wassa).

Receive News & Ratings for Golden Star Resources Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Golden Star Resources Ltd. and related companies with Analyst Ratings Network's FREE daily email newsletter.