UPDATE: BMO Capital Markets Lowers PT to $2 on Golden Star Resources; Focus Shifts to Operations, Opportunities
BMO Capital Markets reduces its price target on Golden Star Resources (NYSE: GSS) from $2.25 to $2 and reiterates its Market Perform rating on shares.
BMO Capital Markets notes, "Golden Star completed a purchase and exchange transaction with certain holders of its 4.00% convertible senior unsecured debentures due November 30, 2012. …The transaction addresses the significant overhang from the pending maturity of the original debentures despite a challenging financing environment. The strengthened balance sheet should allow the company to focus on delivery of operational improvements and evaluation of potential growth opportunities."
GSS closed at $1.06 on Friday.
Latest Ratings for GSS
|Nov 2015||BMO Capital||Upgrades||Underperform||Market Perform|
|Jul 2015||Canaccord Genuity||Downgrades||Buy||Hold|
|Jul 2013||Canaccord Genuity||Downgrades||Hold||Sell|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.