Friday, Credit Suisse upgraded Golden Star Resources Ltd. (GSC.TO) shares to Neutral from Underperform and increased its price target to $1.60 from $1.40. The brokerage lowered its 2009 EPS estimate to breakeven from $0.06, and its 2010 estimate to $0.06 from $0.14.
Analyst Soni upgraded the stock to Neutral, and increased price target to $1.60 based on a revision to his discounted cash flow, or DCF, to $1.97/share from $2.03. The analyst is revising his P/NAV multiple to 1.0X from 0.9X to reflect a stabilization of costs and two quarters of consistent performance from the company.
While costs remain high at BP, previously, costs had been on a continual upward climb at the asset, which the analyst believes represented operating risk and thus he has applied a discount to his NAV. The analyst lowered estimates primarily due to the result of increased DD&A expense.
Currently, GSC.TO is up C$0.09 or 4.92% and trading at C$1.92.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.