Golden Star Resources (GSS) Stock Price Down 8%

Golden Star Resources Ltd. (NYSEAMERICAN:GSS) shares dropped 8% during mid-day trading on Friday . The company traded as low as $0.69 and last traded at $0.69. Approximately 2,868,586 shares changed hands during mid-day trading, an increase of 80% from the average daily volume of 1,589,767 shares. The stock had previously closed at $0.75.

GSS has been the topic of a number of analyst reports. HC Wainwright initiated coverage on Golden Star Resources in a report on Wednesday, November 29th. They issued a “buy” rating and a $1.40 price target on the stock. Zacks Investment Research upgraded Golden Star Resources from a “hold” rating to a “strong-buy” rating and set a $1.00 price target on the stock in a report on Wednesday, January 3rd. Scotiabank set a $0.95 price target on Golden Star Resources and gave the company a “sector perform” rating in a report on Wednesday, November 15th. National Bank Financial initiated coverage on Golden Star Resources in a report on Tuesday, January 30th. They issued an “outperform” rating on the stock. Finally, Credit Suisse Group upgraded Golden Star Resources from an “underperform” rating to a “neutral” rating in a report on Friday, January 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $1.12.

The firm has a market capitalization of $390.80, a PE ratio of 9.86 and a beta of -0.80.

Several institutional investors have recently bought and sold shares of GSS. Virtu Financial LLC acquired a new stake in shares of Golden Star Resources in the 4th quarter worth $137,000. Bank of New York Mellon Corp acquired a new stake in shares of Golden Star Resources in the 4th quarter worth $204,000. Hollencrest Capital Management boosted its position in shares of Golden Star Resources by 100.0% in the 4th quarter. Hollencrest Capital Management now owns 300,000 shares of the company’s stock worth $267,000 after purchasing an additional 150,000 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Golden Star Resources by 22.5% in the 4th quarter. Bank of Montreal Can now owns 475,200 shares of the company’s stock worth $423,000 after purchasing an additional 87,200 shares in the last quarter. Finally, Creative Planning boosted its position in shares of Golden Star Resources by 15.7% in the 4th quarter. Creative Planning now owns 515,398 shares of the company’s stock worth $459,000 after purchasing an additional 70,000 shares in the last quarter.

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Golden Star Resources Company Profile

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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