Nysemkt (NYSEMKT:GSS) (TSE:GSC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, October 23rd. The brokerage currently has a $0.75 target price on the mining company’s stock. Zacks Investment Research‘s price objective would suggest a potential downside of 2.98% from the company’s previous close.
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. “
Several other research firms also recently weighed in on GSS. Desjardins assumed coverage on Nysemkt in a research note on Friday, September 29th. They issued a “buy” rating for the company. ValuEngine raised Nysemkt from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. BidaskClub upgraded Nysemkt from a “strong sell” rating to a “sell” rating in a report on Thursday, September 28th. Scotiabank set a $1.00 price objective on Nysemkt and gave the stock a “sector perform” rating in a report on Friday, July 7th. Finally, Beacon Securities restated a “buy” rating on shares of Nysemkt in a report on Wednesday, October 11th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $1.23.
Shares of Nysemkt (NYSEMKT GSS) traded down $0.03 during midday trading on Monday, hitting $0.77. The company had a trading volume of 1,430,000 shares, compared to its average volume of 1,600,000. Nysemkt has a 1 year low of $0.59 and a 1 year high of $1.01.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. U S Global Investors Inc. lifted its position in Nysemkt by 8.7% in the second quarter. U S Global Investors Inc. now owns 2,500,000 shares of the mining company’s stock worth $1,625,000 after purchasing an additional 200,000 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Nysemkt by 642.6% in the second quarter. Goldman Sachs Group Inc. now owns 2,079,046 shares of the mining company’s stock valued at $1,352,000 after buying an additional 1,799,086 shares in the last quarter. Zacks Investment Management bought a new position in shares of Nysemkt in the second quarter valued at $123,000. GSA Capital Partners LLP increased its holdings in shares of Nysemkt by 337.5% in the second quarter. GSA Capital Partners LLP now owns 2,115,900 shares of the mining company’s stock valued at $1,376,000 after buying an additional 1,632,300 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Nysemkt by 10.4% in the second quarter. Franklin Resources Inc. now owns 21,641,667 shares of the mining company’s stock valued at $14,069,000 after buying an additional 2,035,000 shares in the last quarter.
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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