UPDATE: Scotia Capital Markets Cuts PT to $2 on Golden Star Resources; High Costs Persist
Scotia Capital Markets cuts its price target from $2.25 to $2 on Golden Star Resources (NYSE: GSS) as it reiterates its Sector Perform rating on shares.
Scotia Capital Markets comments, "Golden Star is trading at a discount to our conservative valuation, but we continue to rate the shares 2-Sector Perform. Until cash costs show signs of decreasing faster than the gold price, we would wait to accumulate a higher-than-average cost producer with so much leverage to the gold price."
GSS closed at $1.40 on Tuesday.
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