Golden Star Resources Ltd. (NYSEAMERICAN:GSS) Short Interest Down 12.4% in July

Golden Star Resources Ltd. (NYSEAMERICAN:GSS) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 5,998,500 shares, a decline of 12.4% from the June 30th total of 6,851,400 shares. Approximately 7.9% of the company’s stock are sold short. Based on an average trading volume of 769,600 shares, the short-interest ratio is presently 7.8 days.

GSS opened at $2.86 on Friday. Golden Star Resources has a 1-year low of $2.43 and a 1-year high of $4.97.

Golden Star Resources (NYSEAMERICAN:GSS) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.03). The business had revenue of $61.92 million for the quarter.

A number of research analysts recently issued reports on GSS shares. Beacon Securities downgraded shares of Golden Star Resources from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. TheStreet downgraded shares of Golden Star Resources from a “c-” rating to a “d+” rating in a research report on Friday, August 9th. Zacks Investment Research downgraded shares of Golden Star Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, HC Wainwright reiterated a “buy” rating and set a $3.80 target price on shares of Golden Star Resources in a research report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $5.18.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC acquired a new position in Golden Star Resources during the fourth quarter worth $37,000. Sigma Planning Corp acquired a new position in Golden Star Resources during the first quarter worth $88,000. Commerzbank Aktiengesellschaft FI acquired a new position in Golden Star Resources during the second quarter worth $114,000. BNP Paribas Arbitrage SA acquired a new position in Golden Star Resources during the second quarter worth $149,000. Finally, Bank of America Corp DE raised its holdings in Golden Star Resources by 1,688.3% during the fourth quarter. Bank of America Corp DE now owns 55,884 shares of the company’s stock worth $176,000 after buying an additional 52,759 shares during the last quarter.

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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