Analyst Actions: Golden Star Upgraded To Neutral, Target Lifted 20% at Credit Suisse; Shares Flat


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Golden Star Resources Ltd. ( GSS ) has been upgraded to Neutral form Underperform by analysts at Credit Suisse. The firm also raised the target price on the stock to $1.80 from $1.50 a share.

"GSS released its 2012 reserve/resource update, which included 88% growth in non-refractory ore at Wassa," said Credit Suisse. "GSS is hosting a mine tour of Bogoso/Prestea and Wassa on February 8-10th, which will provide further visibility on the future of Wassa and Bogoso/Prestea, we will be attending and will look to refine our LT estimates."

The firm added that "rReasons for becoming more constructive on GSS are emerging on a fundamental basis, including a new CEO with the opportunity to implement a turn-around plan for the company; the head-office move to Toronto, which will give the company greater access to the capital markets; and strong drill results at Wassa, which resulted in a significant increase to reserves and resources at that asset in 2012."

Shares of GSS are flat in mid-day trading at $1.63, and are within a 52-week range of $0.90 - $2.19.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: GSS

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