In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on Golden Star Resources (GSS), with a price target of $7.00. The company’s shares closed last Friday at $4.06.
According to TipRanks.com, Ihle is a 5-star analyst with an average return of 18.6% and a 52.7% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Northern Dynasty Minerals, and First Majestic Silver.
Golden Star Resources has an analyst consensus of Strong Buy, with a price target consensus of $6.11, implying a 53.1% upside from current levels. 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.
