BMO Capital Remains a Hold on Golden Star Resource

By Ryan Adsit

Wall Street analyst has provided a rating update for the Materials sector company yesterday, while remaining neutral on the stock. Golden Star Resource (TSX: GSC) received a Hold rating from BMO Capital’s analyst David Gagliano, with a C$1.25 price target.

According to, Gagliano is a 4-star analyst with an average return of 4.2% and a 51.5% success rate. Gagliano covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Newmont Mining Corporation, and Stillwater Mining Company.

Golden Star Resource has an analyst consensus of Hold, with a price target consensus of C$1.25.

Based on Golden Star Resource’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$90.72 million and quarterly net profit of C$225K. In comparison, last year the company earned revenue of C$83.89 million and had a net profit of C$2.82 million.

Golden Star Resources Ltd. engages in gold mining and exploration activities. It owns and operates the Wassa and Prestea mines situated in Ghana. Its business is carried out through the following segments: Wassa, Bogoso/Prestea, Other, and Corporate. The company was founded by David A. Fennell on May 15, 1992 and is headquartered in Toronto, Canada.

The company’s shares closed on Wednesday at $0.89, close to its 52-week high of $1.46.