H.C. Wainwright Remains a Buy on Golden Star Resources Ltd (GSS)


In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on Golden Star Resources Ltd (NYSE: GSS), with a price target of $1. The company’s shares closed yesterday at $0.77.

Ihle noted:

“We maintain our Buy rating and our $1.00 per share PT. Our valuation is based on a DCF of the Prestea and Wassa mines, utilizing a 9% discount rate for each. We also add cash and deduct debt to reach our overall NAV of $0.98 per share, which we round to the nearest $0.10 for our $1.00 per share PT.”

According to TipRanks.com, Ihle is a 3-star analyst with an average return of 1.6% and a 32.9% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Northern Dynasty Minerals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Golden Star Resources Ltd with a $1.13 average price target.

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Based on Golden Star Resources Ltd’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $6.64 million. In comparison, last year the company had a net profit of $13.88 million.

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Golden Star Resources Ltd. engages in gold mining and exploration activities. It owns and operates the Wassa and Prestea mines situated in Ghana. It operates through the following business segments: Wassa, Bogoso or Prestea, Other, and Corporate. The company was founded by David A. Fennell on May 15, 1992 and is headquartered in Toronto, Canada.

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