Golden Star Resources (GSS) Stock Rating Upgraded by Zacks Investment Research

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

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. “

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Several other brokerages also recently weighed in on GSS. BMO Capital Markets set a $7.00 price target on Golden Star Resources and gave the stock a “buy” rating in a report on Monday, November 5th. National Bank Financial reiterated a “buy” rating on shares of Golden Star Resources in a report on Tuesday, October 30th. HC Wainwright set a $5.00 price objective on Golden Star Resources and gave the company a “buy” rating in a report on Thursday, November 1st. Finally, Desjardins reiterated a “buy” rating on shares of Golden Star Resources in a report on Monday, November 5th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $5.58.

Shares of NYSEAMERICAN GSS opened at $3.79 on Friday. Golden Star Resources has a 1-year low of $2.43 and a 1-year high of $4.00.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GSS. Hollencrest Capital Management increased its holdings in shares of Golden Star Resources by 22.5% in the 3rd quarter. Hollencrest Capital Management now owns 367,500 shares of the company’s stock valued at $266,000 after acquiring an additional 67,500 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Golden Star Resources by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 998,239 shares of the company’s stock valued at $724,000 after acquiring an additional 22,200 shares during the last quarter. Schroder Investment Management Group purchased a new position in shares of Golden Star Resources in the 3rd quarter valued at about $2,199,000. Franklin Resources Inc. increased its holdings in shares of Golden Star Resources by 1.8% in the 3rd quarter. Franklin Resources Inc. now owns 22,491,667 shares of the company’s stock valued at $16,304,000 after acquiring an additional 400,000 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Golden Star Resources in the 3rd quarter valued at about $325,000.

About Golden Star Resources

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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Analyst Recommendations for Golden Star Resources (NYSEAMERICAN:GSS)

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