CIBC Asset Management Inc Cuts Stake in Golden Star Resources Ltd. (GSS)

CIBC Asset Management Inc cut its position in Golden Star Resources Ltd. (NYSEMKT:GSS) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,432,920 shares of the mining company’s stock after selling 15,620 shares during the period. CIBC Asset Management Inc’s holdings in Golden Star Resources were worth $1,593,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GSS. Bank of New York Mellon Corp boosted its position in shares of Golden Star Resources by 18.0% in the first quarter. Bank of New York Mellon Corp now owns 125,280 shares of the mining company’s stock worth $106,000 after buying an additional 19,121 shares during the period. Sigma Planning Corp boosted its position in shares of Golden Star Resources by 12.8% in the first quarter. Sigma Planning Corp now owns 137,268 shares of the mining company’s stock worth $116,000 after buying an additional 15,555 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Golden Star Resources by 26.4% in the first quarter. Goldman Sachs Group Inc. now owns 279,960 shares of the mining company’s stock worth $237,000 after buying an additional 58,510 shares during the period. Global X Management Co. LLC boosted its position in shares of Golden Star Resources by 224.2% in the first quarter. Global X Management Co. LLC now owns 307,160 shares of the mining company’s stock worth $260,000 after buying an additional 212,412 shares during the period. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of Golden Star Resources during the first quarter worth about $306,000.

Golden Star Resources Ltd. (GSS) opened at 0.73 on Thursday. Golden Star Resources Ltd. has a 12-month low of $0.59 and a 12-month high of $1.01. The stock’s 50 day moving average price is $0.66 and its 200 day moving average price is $0.76. The company’s market cap is $274.60 million.

Golden Star Resources (NYSEMKT:GSS) last released its earnings results on Tuesday, August 1st. The mining company reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $77.34 million during the quarter. Equities research analysts anticipate that Golden Star Resources Ltd. will post $0.06 EPS for the current year.

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A number of brokerages have issued reports on GSS. ValuEngine cut Golden Star Resources from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Zacks Investment Research cut Golden Star Resources from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Clarus Securities restated a “buy” rating on shares of Golden Star Resources in a report on Thursday, May 4th. Finally, Scotiabank set a $1.00 target price on Golden Star Resources and gave the stock a “sector perform” rating in a report on Friday, July 7th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $1.15.

About Golden Star Resources

Golden Star Resources Ltd. is a gold mining and exploration company. The Company’s segments include Wassa, Bogoso/Prestea, Other and Corporate. The Company, through its subsidiary, Golden Star (Wassa) Limited, owns and operates the Wassa open-pit gold mine, the Wassa underground mine and a carbon-in-leach (CIL) processing plant (Wassa).

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Institutional Ownership by Quarter for Golden Star Resources (NYSEMKT:GSS)

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