After National Bank and H.C. Wainwright gave Golden Star Resources (NYSE MKT: GSS) a Buy rating last month, the company received another Buy, this time from Canaccord Genuity. Analyst Carey MacRury maintained a Buy rating on Golden Star Resources yesterday and set a price target of C$8.50. The company’s shares closed last Monday at $4.18.
According to TipRanks.com, MacRury is a top 100 analyst with an average return of 25.2% and a 74.0% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Osisko Gold Royalties, and Kirkland Lake Gold.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Golden Star Resources with a $6.24 average price target, representing a 46.5% upside. In a report issued on October 25, National Bank also maintained a Buy rating on the stock with a C$8.25 price target.
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Based on Golden Star Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $74.24 million and GAAP net loss of $67.26 million. In comparison, last year the company earned revenue of $48.38 million and had a net profit of $5.96 million.
Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GSS in relation to earlier this year.
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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 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.
