H.C. Wainwright Thinks Golden Star Resources’ Stock is Going to Recover


H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on Golden Star Resources (GSS) today and set a price target of $4.50. The company’s shares closed last Wednesday at $2.32, close to its 52-week low of $1.86.

According to TipRanks.com, Ihle has 0 stars on 0-5 stars ranking scale with an average return of -4.5% and a 35.9% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Northern Dynasty Minerals, and First Majestic Silver.

Currently, the analyst consensus on Golden Star Resources is a Moderate Buy with an average price target of $3.67.

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Based on Golden Star Resources’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $66.06 million and GAAP net loss of $62.43 million. In comparison, last year the company earned revenue of $57.34 million and had a GAAP net loss of $9.32 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 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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