Golden Star Resources (NYSEAMERICAN:GSS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

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. “

A number of other equities analysts also recently weighed in on GSS. HC Wainwright set a $1.00 price target on shares of Golden Star Resources and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Scotiabank raised shares of Golden Star Resources from a “sector perform” rating to an “outperform” rating in a research note on Thursday, August 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $0.98.

NYSEAMERICAN GSS traded down $0.02 during mid-day trading on Tuesday, reaching $0.69. 304,600 shares of the stock were exchanged, compared to its average volume of 1,116,239. Golden Star Resources has a 1-year low of $0.56 and a 1-year high of $0.92.

Golden Star Resources (NYSEAMERICAN:GSS) last announced its earnings results on Wednesday, August 1st. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.01). Golden Star Resources had a return on equity of 1,299.50% and a net margin of 15.61%. The firm had revenue of $77.12 million for the quarter.

A number of large investors have recently bought and sold shares of GSS. First Allied Advisory Services Inc. raised its stake in Golden Star Resources by 203.5% during the first quarter. First Allied Advisory Services Inc. now owns 217,000 shares of the company’s stock worth $130,000 after purchasing an additional 145,500 shares during the period. Sigma Planning Corp raised its stake in Golden Star Resources by 41.6% during the second quarter. Sigma Planning Corp now owns 268,617 shares of the company’s stock worth $181,000 after purchasing an additional 78,924 shares during the period. JPMorgan Chase & Co. raised its stake in Golden Star Resources by 20.7% during the first quarter. JPMorgan Chase & Co. now owns 910,539 shares of the company’s stock worth $534,000 after purchasing an additional 156,100 shares during the period. Bank of Montreal Can raised its stake in Golden Star Resources by 64.0% during the second quarter. Bank of Montreal Can now owns 1,092,689 shares of the company’s stock worth $738,000 after purchasing an additional 426,584 shares during the period. Finally, GSA Capital Partners LLP raised its stake in Golden Star Resources by 32.7% during the first quarter. GSA Capital Partners LLP now owns 1,303,116 shares of the company’s stock worth $765,000 after purchasing an additional 321,100 shares during the period.

About Golden Star Resources

Golden Star Resources Ltd. operates as a gold mining and exploration company. The company owns and operates the Wassa open-pit gold mine, the Wassa underground mine, and a carbon-in-leach processing plant located to the northeast of the town of Tarkwa, Ghana; and Bogoso gold mining and processing operation, Prestea open-pit mining operations, and the Prestea underground development project located near the town of Prestea, Ghana.

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