Golden Star Resources Ltd. (GSS): Why Its Shares Are Down -5.8 Percent Today?

Today’s big question for investors is, “what’s going on with Golden Star Resources Ltd. (NYSE:GSS) stock? Its price is nose-diving -0.27 points, trading at $4.47 levels, and is down -5.8% from its previous close of $4.74. The shares seem to have an active trading volume day with a reported 151225 contracts so far this session. GSS shares had a relatively better volume day versus average trading capacity of 412.23 thousand shares, but with a 0.13 billion float and a 12.06% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for GSS stock indicates that the average analyst price target is $5 per share. This means the stock has a potential increase of 11.86% from where the GSS share price has been trading recently which is between $4.7 and $4.97. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $4.4.

The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Stocks Fight Past Earnings Jitters for Another Record Close” and dated July 16, 2019.

During the recent trading session for Golden Star Resources Ltd. (NYSE:GSS), the company witnessed their stock rise $0.32 over a week and surge $0.94 from the price 20 days ago. When compared to their established 52-week high of $4.97, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/17/19. The recent low of $2.43 stood for a -10.16% since 11/27/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.21 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Golden Star Resources Ltd., the two-week RSI stands at 58.89. This figure suggests that GSS stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current GSS readings is similarly very revealing as it has a stochastic reading of 75.7% at this stage. This figure means that GSS share price today is being oversold.

Technical chart claims that Golden Star Resources Ltd. (GSS) would settle between $4.91/share to $5.08/share level. However, if the stock price goes below the $4.63 mark, then the market for Golden Star Resources Ltd. becomes much weaker. If that happens, the stock price might even plunge as low as $4.53 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.29. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at National Bank Financial, assumed coverage of GSS assigning Outperform rating, according to their opinion released on January 30. Credit Suisse analysts bumped their rating on Golden Star Resources Ltd. (NYSE:GSS) stock from Underperform to Neutral in a separate flash note issued to investors on January 26. Analysts at H.C. Wainwright, made their first call for the equity with a Buy recommendation, according to a research note that dated back to November 29.

GSS equity has an average rating of 2.5, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 2 analysts rated Golden Star Resources Ltd. (NYSE:GSS) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, GSS stock price is currently trading at 9.35X forward 12-month Consensus EPS estimates, and its P/S ratio is 2.24 while for the average stock in the same group, the multiple is 1.26.