| Should You Buy Golden Star Resources (GSS) Ahead of Earnings? | |
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Investors are always looking for stocks that are poised to beat at earnings season and Golden Star Resources, Ltd. GSS may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Golden Star Resources is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings—with the most up-to-date information possible—is a pretty good indicator of some favorable trends underneath the surface for GSS in this report.
In fact, the Most Accurate Estimate for the current quarter currently stands at a loss of 6 cents per share for GSS, compared to a broader Zacks Consensus Estimate of a loss of 7 cents per share. This suggests that analysts have very recently bumped up their estimates for GSS, giving the stock a Zacks Earnings ESP of 14.29% heading into earnings season.
Why is this Important?
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10 year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Given that GSS has a Zacks Rank #3 (Hold) and an ESP in positive territory, investors might want to consider this stock ahead of earnings. Clearly, recent earnings estimate revisions suggest that good things are ahead for Golden Star Resources, and that a beat might be in the cards for the upcoming report.
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Golden Star Resources
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PRODUCER |
CODE : GSC.TO |
ISIN : CA38119T1049 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Golden Star is a gold producing company based in United states of america. Golden Star holds various exploration projects in Burkina Faso. Its main assets in production are BOGOSO / PRESTEA, WASSA, HWINI-BUTRE (FATHER BROWN) and BENSO in Ghana and its main exploration properties are MANO RIVER in Sierra Leone, SARAMACCA and AMÉLIKIA in Suriname, AKROPONG TREND and DUNKWA in Ghana and GOULAGOU - ROUNGA in Burkina Faso. Golden Star is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 2.9 billions as of today (US$ 2.3 billions, € 2.1 billions). Its stock quote reached its highest recent level on November 28, 2003 at CA$ 9.94, and its lowest recent point on December 24, 2014 at CA$ 0.20. Golden Star has 584 169 984 shares outstanding. |