Shares of Golden Star Resources Ltd. (USA) (AMEX:GSS) is one of the few gold stocks which had been underperformed the broader market in the past few weeks.
Shares of Golden Star Resources Ltd. have fallen over 10% in the past one week, compared to a rise of about 5% in the prices of gold during the same period. Usually shares of gold mining stocks rises when gold prices rises as this increases their profitability.
Golden Star Resources stock is down 3.93% to $2.20 now, while Gold is up over 2.50% as increasing debt crisis and downgrade of U.S. debt pushed buyers to switch to safe haven investment and gold is the safest bet against inflation.
Shares ofGolden Star Resourcesmade a new 52-week low of $2.15 on Friday. In the previous trading session, the stock had shown high volatile with the stock made an intraday high of $2.39 and closed at $2.29, a rise of 0.50%.
Golden Star Resourcesstock is still down 52.61% so far this year, with most of the losses came in the month of Januarys and February.
Golden Star Resources Still Dropping
Shares of Golden Star Resourcesare trading well below its 50-Day Moving Average and 200-Day Moving Average prices of $2.50 and $2.96 respectively. The company had total outstanding shares of 258.56 million, of which 256.52 million were floating shares. Over 50% shares are held by Institutions and 0.82% by insiders.
For the recent year ended, Golden Star Resources Ltd. (AMEX:GSS) had revenue of $445.93 and profit of $6.90 million or 3 cents a share.
Golden Star Resources is a gold mining company with interests in Bogoso/Prestea and Wassa/HBB open-pit gold mines in Ghana indirectly.
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