Gossan Resources (GSS) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Gossan Resources (NYSEAMERICAN:GSS) from a strong-buy rating to a hold rating in a research report released 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. “

A number of other analysts have also recently issued reports on GSS. Scotiabank set a $0.95 target price on Gossan Resources and gave the stock a sector perform rating in a research note on Wednesday, November 15th. Desjardins assumed coverage on Gossan Resources in a research note on Friday, September 29th. They issued a buy rating for the company.

Shares of Gossan Resources (NYSEAMERICAN GSS) opened at $0.86 on Tuesday. Gossan Resources has a fifty-two week low of $0.59 and a fifty-two week high of $1.01.

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About Gossan 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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