Golden Star Resources Ltd. (GSS) Short Interest Update

Golden Star Resources Ltd. (NYSEAMERICAN:GSS) was the target of a large drop in short interest during the month of May. As of May 31st, there was short interest totalling 12,205,462 shares, a drop of 5.0% from the May 15th total of 12,846,456 shares. Based on an average daily trading volume, of 810,358 shares, the days-to-cover ratio is presently 15.1 days. Approximately 3.3% of the shares of the company are sold short.

Golden Star Resources opened at $0.71 on Wednesday, according to Marketbeat.com. Golden Star Resources has a 52-week low of $0.56 and a 52-week high of $0.92.

Golden Star Resources (NYSEAMERICAN:GSS) last posted its quarterly earnings results on Wednesday, May 2nd. The company reported $0.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.02). The company had revenue of $70.82 million during the quarter. Golden Star Resources had a return on equity of 1,299.50% and a net margin of 15.61%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp grew its position in Golden Star Resources by 2.1% in the 1st quarter. Van ECK Associates Corp now owns 28,256,691 shares of the company’s stock worth $16,587,000 after purchasing an additional 569,814 shares during the last quarter. Franklin Resources Inc. grew its position in Golden Star Resources by 0.7% in the 1st quarter. Franklin Resources Inc. now owns 22,091,667 shares of the company’s stock worth $12,968,000 after purchasing an additional 150,000 shares during the last quarter. Renaissance Technologies LLC grew its position in Golden Star Resources by 10.3% in the 4th quarter. Renaissance Technologies LLC now owns 10,999,088 shares of the company’s stock worth $9,789,000 after purchasing an additional 1,030,400 shares during the last quarter. AGF Investments Inc. grew its position in Golden Star Resources by 25.6% in the 1st quarter. AGF Investments Inc. now owns 1,850,300 shares of the company’s stock worth $1,091,000 after purchasing an additional 377,200 shares during the last quarter. Finally, GSA Capital Partners LLP grew its position in Golden Star Resources by 32.7% in the 1st 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 last quarter.

A number of research analysts recently issued reports on the stock. Scotiabank set a $0.95 target price on shares of Golden Star Resources and gave the company a “sector perform” rating in a research note on Wednesday, March 28th. BMO Capital Markets upgraded shares of Golden Star Resources from a “market perform” rating to an “outperform” rating in a research note on Monday, April 16th. HC Wainwright set a $1.00 target price on shares of Golden Star Resources and gave the company a “buy” rating in a research note on Thursday, February 15th. TheStreet upgraded shares of Golden Star Resources from a “d” rating to a “c” rating in a research note on Wednesday, March 28th. Finally, Zacks Investment Research upgraded shares of Golden Star Resources from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Golden Star Resources currently has an average rating of “Buy” and a consensus price target of $0.98.

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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