Golden Star Resources Ltd. (NYSEMKT:GSS) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Golden Star Resources Ltd. (NYSEMKT:GSS) from a hold rating to a strong-buy rating in a research note released on Monday, August 7th. Zacks Investment Research currently has $0.75 price target on the mining company’s 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 analysts have also recently issued reports about the stock. ValuEngine cut shares of Golden Star Resources from a buy rating to a hold rating in a report on Wednesday, July 19th. Clarus Securities restated a buy rating on shares of Golden Star Resources in a report on Thursday, May 4th. Finally, Scotiabank set a $1.00 price objective on shares of Golden Star Resources and gave the company a sector perform rating in a research report on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Hold and an average price target of $1.15.

Golden Star Resources (NYSEMKT GSS) opened at 0.7114 on Monday. The company’s 50-day moving average is $0.67 and its 200-day moving average is $0.75. The stock’s market capitalization is $267.62 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) last released its quarterly earnings results on Tuesday, August 1st. The mining company reported $0.02 earnings per share for the quarter. The firm had revenue of $77.34 million during the quarter. Equities research analysts forecast that Golden Star Resources will post $0.06 EPS for the current year.

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Several institutional investors have recently made changes to their positions in GSS. Norges Bank bought a new position in shares of Golden Star Resources during the fourth quarter valued at approximately $1,195,000. Creative Planning raised its position in shares of Golden Star Resources by 10.6% in the first quarter. Creative Planning now owns 445,398 shares of the mining company’s stock valued at $377,000 after buying an additional 42,738 shares during the last quarter. OppenheimerFunds Inc. raised its position in shares of Golden Star Resources by 5.4% in the first quarter. OppenheimerFunds Inc. now owns 11,797,660 shares of the mining company’s stock valued at $9,994,000 after buying an additional 600,000 shares during the last quarter. U S Global Investors Inc raised its position in shares of Golden Star Resources by 15.0% in the first quarter. U S Global Investors Inc now owns 2,300,000 shares of the mining company’s stock valued at $1,948,000 after buying an additional 300,000 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Golden Star Resources by 18.0% in 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 buying an additional 19,121 shares during the last quarter.

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).

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