Market Overview

UPDATE: Credit Suisse Upgrades Golden Star to Neutral on Wassa Reserve Growth

Related GSS
What's Going On With Gold Today?
Worst Performing Industries For July 25, 2016

Credit Suisse upgraded Golden Star (NYSE: GSS) from Underperform to Neutral and raised the price target from $1.50 to $1.80.

Credit Suisse noted, "We upgrade our rating to Neutral and increase our TP to $1.80 with positive reserve growth at Wassa: Our $1.80TP is based on an even weighting of our $1.70/sh OpCFa valuation and $1.90/sh NAV valuation. … Reasons for becoming more constructive on GSS are emerging on a fundamental basis, including: (i) a new CEO with the opportunity to implement a turn-around plan for the company; (ii) the head-office move to Toronto, which will give the company greater access to the capital markets; (iii) strong drill results at Wassa, which resulted in a significant increase to reserves and resources at that asset in 2012."

Golden Star closed at $1.63 on Tuesday.

Latest Ratings for GSS

Nov 2015BMO CapitalUpgradesUnderperformMarket Perform
Jul 2015Canaccord GenuityDowngradesBuyHold
Jul 2013Canaccord GenuityDowngradesHoldSell

View More Analyst Ratings for GSS
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Upgrades Analyst Ratings


Related Articles (GSS)

View Comments and Join the Discussion!