Executive Summary
Golden Star Resources Ltd. operates as a gold mining and exploration company.
Rewards
Risk Analysis
Snowflake Analysis
High growth potential with weak fundamentals.
Similar Companies
Share Price & News
How has Golden Star Resources's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: GSC has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-2.3%
GSC
-0.3%
CA Metals and Mining
2.1%
CA Market
1 Year Return
-16.5%
GSC
28.6%
CA Metals and Mining
-10.3%
CA Market
Return vs Industry: GSC underperformed the Canadian Metals and Mining industry which returned 33.4% over the past year.
Return vs Market: GSC underperformed the Canadian Market which returned -11.3% over the past year.
Shareholder returns
| GSC | Industry | Market | |
|---|---|---|---|
| 7 Day | -2.3% | -0.3% | 2.1% |
| 30 Day | 11.6% | -2.3% | 5.8% |
| 90 Day | -6.3% | 18.3% | -6.4% |
| 1 Year | -16.5%-16.5% | 29.6%28.6% | -7.3%-10.3% |
| 3 Year | -19.2%-19.2% | 12.8%10.9% | 1.9%-7.6% |
| 5 Year | 89.6%89.6% | 54.0%49.7% | 18.4%1.0% |
Price Volatility Vs. Market
How volatile is Golden Star Resources's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 months ago | Simply Wall St
President Andrew Wray Just Bought Shares In Golden Star Resources Ltd. (TSE:GSC)3 months ago | Simply Wall St
Is Golden Star Resources's (TSE:GSC) Share Price Gain Of 102% Well Earned?4 months ago | Simply Wall St
We Think Golden Star Resources (TSE:GSC) Is Taking Some Risk With Its DebtValuation
Is Golden Star Resources undervalued compared to its fair value and its price relative to the market?
5.9x
Price to Book (PB) ratio
Share Price vs. Fair Value
Below Fair Value: GSC (CA$3.84) is trading above our estimate of fair value (CA$1.09)
Significantly Below Fair Value: GSC is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: GSC is unprofitable, so we can't compare its PE Ratio to the Metals and Mining industry average.
PE vs Market: GSC is unprofitable, so we can't compare its PE Ratio to the Canadian market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate GSC's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: GSC is overvalued based on its PB Ratio (5.9x) compared to the CA Metals and Mining industry average (1.7x).
Next Steps
Future Growth
How is Golden Star Resources forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
66.8%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: GSC is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.7%).
Earnings vs Market: GSC is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: GSC's is expected to become profitable in the next 3 years.
Revenue vs Market: GSC's revenue (8.5% per year) is forecast to grow faster than the Canadian market (6.2% per year).
High Growth Revenue: GSC's revenue (8.5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: GSC's Return on Equity is forecast to be very high in 3 years time (79%).
Next Steps
Past Performance
How has Golden Star Resources performed over the past 5 years?
28.7%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: GSC is currently unprofitable.
Growing Profit Margin: GSC is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: GSC is unprofitable, but has reduced losses over the past 5 years at a rate of 28.7% per year.
Accelerating Growth: Unable to compare GSC's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: GSC is unprofitable, making it difficult to compare its past year earnings growth to the Metals and Mining industry (14.8%).
Return on Equity
High ROE: GSC's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.
Next Steps
Financial Health
How is Golden Star Resources's financial position?
Financial Position Analysis
Short Term Liabilities: GSC has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.
Long Term Liabilities: GSC has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.
Debt to Equity History and Analysis
Debt Level: GSC has negative shareholder equity, which is a more serious situation than a high debt level.
Reducing Debt: GSC's has negative shareholder equity, so we do not need to check if its debt has reduced over time.
Balance Sheet
Cash Runway Analysis
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: GSC has less than a year of cash runway based on its current free cash flow.
Forecast Cash Runway: Insufficient data to determine if GSC has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.
Next Steps
Dividend
What is Golden Star Resources's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate GSC's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate GSC's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if GSC's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if GSC's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of GSC's dividend in 3 years as they are not forecast to pay a notable one for the Canadian market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
0.6yrs
Average management tenure
CEO
Andrew Wray (55yo)
1.08yrs
Tenure
US$1,706,458
Compensation
Mr. Andrew Wray has been the Chief Executive Officer of Golden Star Resources Limited since May 01, 2019 and serves as its President. Mr. Wray served as the President of Golden Star Resources Limited from ...
CEO Compensation Analysis
Compensation vs Market: Andrew's total compensation ($USD1.71M) is above average for companies of similar size in the Canadian market ($USD1.16M).
Compensation vs Earnings: Andrew's compensation has increased whilst the company is unprofitable.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 1.08yrs | US$1.71m | 0.065% $274.6k | |
| Executive VP & COO | 0.92yr | US$885.73k | no data | |
| Executive VP & CFO | 0.33yr | no data | no data | |
| Vice President of Technical Services | 0.33yr | no data | no data | |
| Executive VP & Head of People | 0.75yr | no data | no data | |
| Executive Vice President of Growth & Exploration | 0.58yr | no data | 0.027% $115.2k | |
| Executive VP & Head of Sustainability | 0.42yr | no data | no data | |
| Investor Relations & Business Development | no data | no data | no data |
0.6yrs
Average Tenure
49yo
Average Age
Experienced Management: GSC's management team is not considered experienced ( 0.6 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 1.08yrs | US$1.71m | 0.065% $274.6k | |
| Independent Director | 10.33yrs | US$147.50k | 0.018% $76.8k | |
| Independent Director | 9.08yrs | US$60.00k | 0.046% $193.5k | |
| Independent Director | 6.33yrs | US$142.50k | 0.046% $195.7k | |
| Independent Director | 3.92yrs | US$143.33k | 0.031% $130.6k | |
| Independent Director | 0.33yr | no data | no data | |
| Independent Chairman | 7.42yrs | US$239.33k | 0.062% $261.1k | |
| Independent Director | 0.75yr | US$88.67k | 0.0091% $38.4k | |
| Independent Director | 3.08yrs | US$135.00k | no data |
3.9yrs
Average Tenure
55yo
Average Age
Experienced Board: GSC's board of directors are considered experienced (3.9 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: GSC insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Golden Star Resources Ltd.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Golden Star Resources Ltd.
- Ticker: GSC
- Exchange: TSX
- Founded: 1992
- Industry: Gold
- Sector: Materials
- Market Cap: CA$421.746m
- Shares outstanding: 109.83m
- Website: https://www.gsr.com
Number of Employees
Location
- Golden Star Resources Ltd.
- 150 King Street West
- Suite 1200
- Toronto
- Ontario
- M5H 1J9
- Canada
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| GSS | AMEX (NYSE MKT LLC) | Yes | Common Shares | US | USD | Jul 1987 |
| GSC | TSX (The Toronto Stock Exchange) | Yes | Common Shares | CA | CAD | Jul 1987 |
| GSR | GHSE (Ghana Stock Exchange) | Yes | Common Shares | GH | GHS | Jul 1987 |
| GS51 | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Jul 1987 |
| GS51 | BST (Boerse-Stuttgart) | Yes | Common Shares | DE | EUR | Jul 1987 |
| 0UYG | LSE (London Stock Exchange) | Yes | Common Shares | GB | CAD | Jul 1987 |
Biography
Golden Star Resources Ltd. operates as a gold mining and exploration company. The company owns and operates the Wassa open-pit gold mine, the Wassa underground mine, and a carbon-in-leach processing plant located to the northeast of the town of Tarkwa, Ghana; and the Bogoso gold mining and processing operation, the Prestea open-pit mining operations, and the Prestea underground mine located near the town of Prestea, Ghana. It also holds and manages interests in various gold exploration properties in Ghana and Brazil. The company was incorporated in 1992 and is headquartered in Toronto, Canada.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/06/03 02:13 |
| End of Day Share Price | 2020/06/02 00:00 |
| Earnings | 2020/03/31 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.