Golden Star Resources
Golden Star Resources Ltd. operates as a gold mining and exploration company. The last earnings update was 105 days ago. More info.
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- Golden Star Resources has significant price volatility in the past 3 months.
GSC Share Price and Events
7 Day Returns
1 Year Returns
GSC Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Golden Star Resources (GSC) | 0.8% | 18% | 30.9% | 10% | 165.1% | 29.3% |
| CA Metals and Mining | -1.5% | 6.3% | 12.4% | -10.2% | 25.2% | -27.2% |
| CA Market | -0.4% | 4.1% | 2.5% | -0.5% | 22.7% | 4.7% |
1 Year Return vs Industry and Market
- GSC outperformed the Metals and Mining industry which returned -10.2% over the past year.
- GSC outperformed the Market in Canada which returned -0.5% over the past year.
Price Volatility
Related Companies
GSC Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Golden Star Resources
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Golden Star Resources.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 5 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 13.5% |
| Perpetual Growth Rate | 10-Year CA Government Bond Rate | 1.9% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year CA Govt Bond Rate | 1.9% |
| Equity Risk Premium | S&P Global | 8.1% |
| Metals and Mining Unlevered Beta | Simply Wall St/ S&P Global | 1.21 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.214 (1 + (1- 26.5%) (24.65%)) |
1.434 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.43 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.434 * 8.05%) |
13.5% |
Discounted Cash Flow Calculation for TSX:GSC using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Golden Star Resources is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.
| 2019 | 2020 | 2021 | 2022 | 2023 | |
| Levered FCF (USD, Millions) | 27.50 | 60.37 | 81.00 | 72.50 | 64.88 |
| Source | Analyst x2 | Analyst x3 | Analyst x1 | Est @ -10.5% | Est @ -10.5% |
|
Present Value Discounted (@ 13.5%) |
24.23 | 46.86 | 55.40 | 43.69 | 34.45 |
| Present value of next 5 years cash flows | $204.64 |
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2023
× (1 + g) ÷ (Discount Rate – g)
= $64.88 × (1 + 1.95%) ÷ (13.5% – 1.95%) |
$572.72 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)5
= $572.72 ÷ (1 + 13.5%)5 |
$304.10 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 5 years cash flows +
Terminal Value
= $204.64 + $304.10 |
$508.74 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $508.74 / 108.81 |
$4.68 |
| Calculation | Result | |
|---|---|---|
| Exchange Rate | USD/CAD
(Reporting currency to currency of TSX:GSC) |
1.323 |
| Value per Share (CAD) |
= Value per Share in USD x Exchange Rate (USD/CAD)
= $4.68 x 1.323 |
CA$6.19 |
| Value per share (CAD) | From above. | CA$6.19 |
| Current discount | Discount to share price of
CA$5.17
= -1 x (CA$5.17 - CA$6.19) / CA$6.19 |
16.4% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Golden Star Resources's share price is below the future cash flow value, but not at a moderate discount (< 20%).
- Golden Star Resources's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Golden Star Resources's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Golden Star Resources's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-09-30) in USD | $0.05 |
| TSX:GSC Share Price ** | TSX (2019-02-13) in CAD | CA$5.17 |
| TSX:GSC Share Price converted to USD reporting currency | Exchange rate (CAD/ USD) 0.756 | $3.91 |
| Canada Metals and Mining Industry PE Ratio | Median Figure of 125 Publicly-Listed Metals and Mining Companies | 10.43x |
| Canada Market PE Ratio | Median Figure of 559 Publicly-Listed Companies | 14.43x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Golden Star Resources.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = TSX:GSC Share Price ÷ EPS (both in USD) = 3.91 ÷ 0.05 |
78.4x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Golden Star Resources is overvalued based on earnings compared to the CA Metals and Mining industry average.
- Golden Star Resources is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does
Golden Star Resources's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 78.4x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts |
96.9%per year |
| Canada Metals and Mining Industry PEG Ratio | Median Figure of 44 Publicly-Listed Metals and Mining Companies | 0.42x |
| Canada Market PEG Ratio | Median Figure of 262 Publicly-Listed Companies | 0.96x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 78.4x ÷ 96.9% |
0.81x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Golden Star Resources is good value based on expected growth next year.
Price based on value of assets
What value do investors place on
Golden Star Resources's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-09-30) in USD | $-0.03 |
| TSX:GSC Share Price * | TSX (2019-02-13) in CAD | CA$5.17 |
| TSX:GSC Share Price converted to USD reporting currency | Exchange rate (CAD/ USD) 0.756 | $3.91 |
| Canada Metals and Mining Industry PB Ratio | Median Figure of 1,077 Publicly-Listed Metals and Mining Companies | 1.42x |
| Canada Market PB Ratio | Median Figure of 2,328 Publicly-Listed Companies | 1.52x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = TSX:GSC Share Price ÷ Book Value per Share (both in USD) = 3.91 ÷ -0.03 |
-155.67x |
* Primary Listing of Golden Star Resources.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Golden Star Resources has negative assets, we can't compare the value of its assets to the CA Metals and Mining industry average.
Value checks
We assess Golden Star Resources's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check) Golden Star Resources has a total score of 1/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
GSC Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Golden Star Resources's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
- Golden Star Resources's earnings growth is expected to exceed the Canada market average.
- Golden Star Resources's revenue growth is positive but not above the Canada market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| TSX:GSC Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts | 96.9% |
| TSX:GSC Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts | 5.8% |
| Canada Metals and Mining Industry Earnings Growth Rate | Market Cap Weighted Average | 36% |
| Canada Metals and Mining Industry Revenue Growth Rate | Market Cap Weighted Average | 7.6% |
| Canada Market Earnings Growth Rate | Market Cap Weighted Average | 16.8% |
| Canada Market Revenue Growth Rate | Market Cap Weighted Average | 7% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (4 months ago) | See Below |
| Future Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 70 | |||
| 2020-12-31 | 324 | 94 | 35 | 2 |
| 2019-12-31 | 281 | 71 | 57 | 5 |
| 2018-12-31 | 274 | 24 | -17 | 4 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-09-30 | 298 | 28 | 4 |
| 2018-06-30 | 318 | 41 | 19 |
| 2018-03-31 | 318 | 42 | 40 |
| 2017-12-31 | 315 | 55 | 39 |
| 2017-09-30 | 287 | 69 | 30 |
| 2017-06-30 | 255 | 67 | -6 |
| 2017-03-31 | 229 | 62 | -42 |
| 2016-12-31 | 221 | 53 | -40 |
| 2016-09-30 | 224 | 41 | -29 |
| 2016-06-30 | 225 | 65 | -13 |
| 2016-03-31 | 240 | 56 | -53 |
| 2015-12-31 | 255 | 60 | -68 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (4 months ago) | See Below |
| Future Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
All data from Golden Star Resources Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | ||||
| 2020-12-31 | 0.25 | 0.25 | 0.25 | 1.00 |
| 2019-12-31 | 0.67 | 0.85 | 0.49 | 2.00 |
| 2018-12-31 | -0.11 | -0.05 | -0.16 | 3.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2018-09-30 | 0.05 |
| 2018-06-30 | 0.25 |
| 2018-03-31 | 0.52 |
| 2017-12-31 | 0.52 |
| 2017-09-30 | 0.40 |
| 2017-06-30 | -0.08 |
| 2017-03-31 | -0.65 |
| 2016-12-31 | -0.67 |
| 2016-09-30 | -0.55 |
| 2016-06-30 | -0.25 |
| 2016-03-31 | -1.01 |
| 2015-12-31 | -1.30 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- Unable to establish if Golden Star Resources will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Future performance checks
We assess Golden Star Resources's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Golden Star Resources has a total score of 3/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
GSC Past Performance
How has Golden Star Resources performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Golden Star Resources has delivered over 20% year on year earnings growth in the past 5 years.
- Golden Star Resources's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- Golden Star Resources's 1-year earnings growth is negative, it can't be compared to the CA Metals and Mining industry average.
Earnings and Revenue History
All data from Golden Star Resources Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-09-30 | 297.52 | 3.80 | 24.52 | |
| 2018-06-30 | 317.56 | 19.09 | 25.52 | |
| 2018-03-31 | 317.77 | 39.62 | 20.11 | |
| 2017-12-31 | 315.50 | 38.77 | 26.96 | |
| 2017-09-30 | 286.91 | 29.62 | 19.54 | |
| 2017-06-30 | 254.65 | -5.61 | 21.65 | |
| 2017-03-31 | 228.77 | -41.53 | 28.57 | |
| 2016-12-31 | 221.29 | -39.65 | 27.57 | |
| 2016-09-30 | 224.46 | -29.31 | 29.44 | |
| 2016-06-30 | 225.40 | -13.03 | 23.34 | |
| 2016-03-31 | 239.74 | -52.50 | 19.31 | |
| 2015-12-31 | 255.19 | -67.68 | 15.59 | |
| 2015-09-30 | 285.35 | -129.62 | 15.83 | |
| 2015-06-30 | 306.66 | -120.19 | 15.93 | |
| 2015-03-31 | 320.43 | -63.84 | 15.08 | |
| 2014-12-31 | 328.92 | -73.08 | 16.92 | |
| 2014-09-30 | 338.36 | -173.50 | 20.82 | |
| 2014-06-30 | 378.76 | -172.59 | 21.84 | |
| 2014-03-31 | 419.89 | -296.26 | 22.30 | |
| 2013-12-31 | 467.80 | -265.89 | 23.18 | |
| 2013-09-30 | 521.47 | -102.98 | 24.63 | |
| 2013-06-30 | 536.81 | -126.55 | 24.81 | |
| 2013-03-31 | 552.43 | 2.32 | 25.24 | |
| 2012-12-31 | 550.54 | 7.19 | 26.89 | |
| 2012-09-30 | 519.64 | 0.09 | 20.49 | |
| 2012-06-30 | 512.03 | 9.96 | 23.33 | |
| 2012-03-31 | 485.52 | 4.87 | 26.96 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- It is difficult to establish if Golden Star Resources has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) due to its liabilities exceeding its assets.
- Golden Star Resources used its assets less efficiently than the CA Metals and Mining industry average last year based on Return on Assets.
- Golden Star Resources has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
Past performance checks
We assess Golden Star Resources's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Golden Star Resources has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
GSC Health
How is Golden Star Resources's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Golden Star Resources's finances.
The net worth of a company is the difference between its assets and liabilities.
- Golden Star Resources's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- Golden Star Resources's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Golden Star Resources has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Golden Star Resources Company Filings, last reported 4 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-09-30 | -71.31 | 104.80 | 18.36 |
| 2018-06-30 | -67.54 | 108.15 | 21.87 |
| 2018-03-31 | -60.36 | 110.44 | 26.22 |
| 2017-12-31 | -41.75 | 95.61 | 27.79 |
| 2017-09-30 | -56.04 | 95.31 | 29.95 |
| 2017-06-30 | -72.56 | 96.32 | 25.90 |
| 2017-03-31 | -86.61 | 101.09 | 36.46 |
| 2016-12-31 | -120.76 | 107.55 | 21.76 |
| 2016-09-30 | -128.99 | 111.74 | 17.49 |
| 2016-06-30 | -137.34 | 127.02 | 7.58 |
| 2016-03-31 | -128.49 | 114.72 | 14.56 |
| 2015-12-31 | -131.23 | 114.34 | 35.11 |
| 2015-09-30 | -145.70 | 99.51 | 27.67 |
| 2015-06-30 | -137.41 | 127.14 | 21.45 |
| 2015-03-31 | -68.86 | 118.97 | 24.18 |
| 2014-12-31 | -54.19 | 102.98 | 39.35 |
| 2014-09-30 | -1.04 | 104.04 | 36.03 |
| 2014-06-30 | -2.75 | 115.77 | 43.41 |
| 2014-03-31 | 3.54 | 112.83 | 57.82 |
| 2013-12-31 | 26.70 | 94.24 | 65.55 |
| 2013-09-30 | 191.46 | 76.35 | 66.64 |
| 2013-06-30 | 186.39 | 62.32 | 58.53 |
| 2013-03-31 | 419.21 | 107.95 | 78.35 |
| 2012-12-31 | 328.18 | 117.48 | 93.92 |
| 2012-09-30 | 424.57 | 167.91 | 132.64 |
| 2012-06-30 | 445.47 | 144.80 | 113.25 |
| 2012-03-31 | 445.78 | 145.00 | 112.93 |
- Golden Star Resources has negative shareholder equity (liabilities exceed assets), this is a more serious situation compared with a high debt level.
- Irrelevant to check if Golden Star Resources's debt level has increased considering it has negative shareholder equity.
- Debt is well covered by operating cash flow (26.8%, greater than 20% of total debt).
- Interest payments on debt are not well covered by earnings (EBIT is 1.4x annual interest expense, ideally 3x coverage).
Financial health checks
We assess Golden Star Resources's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Golden Star Resources has a total score of 1/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
GSC Dividends
What is Golden Star Resources's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
CA$2,000 of
Golden Star Resources
shares you are expected to receive
CA$0
in your first year as a dividend.
Dividend Amount
- Unable to evaluate Golden Star Resources's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
- Unable to evaluate Golden Star Resources's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
| Canada Metals and Mining Industry Average Dividend Yield | Market Cap Weighted Average of 27 Stocks | 1.2% |
| Canada Market Average Dividend Yield | Market Cap Weighted Average of 329 Stocks | 3.6% |
| Canada Minimum Threshold Dividend Yield | 10th Percentile | 1.1% |
| Canada Bottom 25% Dividend Yield | 25th Percentile | 2.1% |
| Canada Top 25% Dividend Yield | 75th Percentile | 5.9% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2021-12-31 | ||
| 2020-12-31 | ||
| 2019-12-31 | ||
| 2018-12-31 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to perform a dividend volatility check as Golden Star Resources has not reported any payouts.
- Unable to verify if Golden Star Resources's dividend has been increasing as the company has not reported any payouts.
Income/ dividend checks
We assess Golden Star Resources's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Golden Star Resources afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Golden Star Resources has a total score of 0/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
GSC Management
CEO
| COMPENSATION | $1,783,283 |
| AGE | 57 |
| TENURE AS CEO | 6.1 years |
CEO Bio
Mr. Samuel T. Coetzer, also known as Sam, has served as President and Chief Executive Officer of Golden Star Resources Limited since January 2013 and has been its Director since December 13, 2012. Prior to this appointment, he served the Company as Executive Vice President and Chief Operating Officer from March 2011 to December 2012. Mr. Coetzer is a mining engineer graduate from the University of Pretoria, a Member of the World Gold Council and has over 25 years of international mining experience, having held increasing levels of responsibility in various mining companies including Xstrata Nickel Australasia Pty Ltd, Xstrata Coal South Africa, and Placer Dome Inc. Mr. Coetzer consulted to Kinross Gold Corporation (“Kinross”) from February 2009 and was appointed in May 2009 as Senior Vice President, South American Operations for Kinross, serving in this role until September 2010. From June 2007 to October 2008, Mr. Coetzer was the Chief Operating Officer of Xstrata Nickel Australasia Pty Ltd, and from March 2006 to June 2007, he was the Chief Operating Officer of Xstrata Coal South Africa. Mr. Coetzer also has significant experience in Africa, having been with Placer Dome Inc.’s South African and Tanzanian operations, where he was Managing Director - South Africa and the Executive General Manager – Tanzania, from 2003 to February 2006.
CEO Compensation
- Sam's compensation has been consistent with company performance over the past year.
- Sam's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure
Average tenure and age of the Golden Star Resources management team in years:
- The average tenure for the Golden Star Resources management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Sam Coetzer
President
$2M
57
6.1 yrs
Pieter van Niekerk
Executive VP & CFO
$743K
41
4.8 yrs
Daniel Monney Owiredu
Executive VP
$1M
60
6.1 yrs
Martin Raffield
Executive VP & Chief Technical Officer
$1M
49
2.6 yrs
Mitch Wasel
Vice President of Exploration
$768K
53
11.4 yrs
Tania Shaw
Vice President of Investor Relations & Corporate Affairs
0.1 yrs
Karen Walsh
Vice President of People & Organizational Development
6.6 yrs
Bruce Higson-Smith
Senior Vice President of Corporate Strategy
$853K
57
6.1 yrs
Jason Brooks
VP & Controller
4.8 yrs
Board of Directors Tenure
Average tenure and age of the Golden Star Resources board of directors in years:
- The tenure for the Golden Star Resources board of directors is about average.
Board of Directors
Tim Baker
Chair of the Board
$186K
66
6.1 yrs
Sam Coetzer
President
$2M
57
6.2 yrs
Daniel Monney Owiredu
Executive VP
$1M
60
4.3 yrs
Rob Doyle
Director
$134K
63
7 yrs
Craig Nelsen
Director
$122K
66
7.8 yrs
Anu Dhir
Director
$123K
46
5 yrs
Gil Clausen
Director
$112K
61
2.6 yrs
Mona Quartey
Director
$133K
54
1.8 yrs
Andrew Wray
Director
54
0.3 yrs
Graham Crew
Director
0.3 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (CA$) | Value (CA$) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 05. Nov 18 | Buy | Karen Walsh | Individual | 05. Nov 18 | 05. Nov 18 | 15,000 | CA$4.14 | CA$62,091 | ||
| 05. Nov 18 | Buy | Samuel Coetzer | Individual | 05. Nov 18 | 05. Nov 18 | 17,000 | CA$4.27 | CA$72,495 | ||
| 09. Aug 18 | Buy | Martin Raffield | Individual | 06. Aug 18 | 09. Aug 18 | 13,631 | CA$4.89 | CA$65,541 | ||
| 03. Aug 18 | Buy | Karen Walsh | Individual | 03. Aug 18 | 03. Aug 18 | 6,000 | CA$4.73 | CA$28,380 | ||
| 03. Aug 18 | Buy | Samuel Coetzer | Individual | 03. Aug 18 | 03. Aug 18 | 8,700 | CA$4.66 | CA$40,555 | ||
| 17. Apr 18 | Buy | Karen Walsh | Individual | 16. Apr 18 | 16. Apr 18 | 10,000 | CA$3.42 | CA$34,185 | ||
| 17. Apr 18 | Buy | Timothy Baker | Individual | 16. Apr 18 | 16. Apr 18 | 11,200 | CA$4.45 | CA$49,840 | ||
Management checks
We assess Golden Star Resources's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Golden Star Resources has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
GSC News
Simply Wall St News
Have Insiders Been Buying Golden Star Resources Ltd. (TSE:GSC) Shares?
So shareholders might well want to know whether insiders have been buying or selling shares in Golden Star Resources Ltd. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … Golden Star Resources Insider Transactions Over The Last Year.
Simply Wall St - – Full articleWhat Kind Of Share Price Volatility Should You Expect For Golden Star Resources Ltd. (TSE:GSC)?
Volatility is considered to be a measure of risk in modern finance theory. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.
Simply Wall St - – Full articleWho Really Owns Golden Star Resources Ltd (TSE:GSC)?
In this article, I will take a quick look at Golden Star Resources Ltd’s (TSE:GSC) recent ownership structure – an unconventional investing subject, but an important one. … The effect of an active institutional investor with a similar ownership as a passive pension-fund can be vastly different on a company's corporate governance and accountability to shareholders. … See our latest analysis for Golden Star Resources
Simply Wall St - – Full articleGolden Star Resources Ltd (TSE:GSC): Can Growth Justify Its July Share Price?
Golden Star Resources Ltd (TSE:GSC) closed yesterday at CA$0.9, which left some investors asking whether the high earnings potential can still be justified at this price. … See our latest analysis for Golden Star Resources? … The excitement around Golden Star Resources's growth potential is not unfounded
Simply Wall St - – Full articleAn Intrinsic Calculation For Golden Star Resources Ltd (TSE:GSC) Shows It's 20.06% Undervalued
In this article I am going to calculate the intrinsic value of Golden Star Resources Ltd (TSE:GSC). … by taking the foreast future cash flows of the company and discounting them back to today's value. … If you are reading this and its not June 2018 then I highly recommend you check out the latest calculation for Golden Star Resources by following the link below.
Simply Wall St - – Full articleDoes Golden Star Resources Ltd's (TSX:GSC) November Stock Price Reflect Its Future Growth?
Golden Star Resources is available at a price-to-earnings ratio of 11x, showing us it is undervalued relative to the current CA market average of 17.29x , and undervalued based on its latest annual earnings update compared to the metals and mining average of 11.06x. … However, since Golden Star Resources is a high-growth stock, we must also account for its earnings growth by using calculation called the PEG ratio. … Based on Golden Star Resources's predicted 71.56% growth in earnings next year and PE ratio of 11x we see that Golden Star Resources has a low PEG ratio of 0.99x.
Simply Wall St - – Full articleShould You Be Tempted To Buy Golden Star Resources Ltd (TSX:GSC) At Its Current Price?
It compares a stock’s price per share to the stock’s earnings per share. … Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for GSC Price per share = 0.98 Earnings per share = 0.08 ∴ Price-Earnings Ratio = 0.98 ÷ 0.08 = 9.7x On its own, the P/E ratio doesn’t tell you much; however, it becomes extremely useful when you compare it with other similar companies. … GSC’s P/E of 9.7x is lower than its industry peers (11.1x), which implies that each dollar of GSC’s earnings is being undervalued by investors.
Simply Wall St - – Full articleWhy Golden Star Resources Ltd's (TSX:GSC) Investor Composition Impacts Your Returns
Check out our latest analysis for Golden Star Resources TSX:GSC Ownership Summary Oct 26th 17 Institutional Ownership Institutions account for 38.80% of GSC's outstanding shares, a significant enough holding to move stock prices if they start buying and selling in large quantities, especially when there are relatively small amounts of shares available on the market to trade. … Although GSC has a high institutional ownership, such stock moves, in the short-term, are more commonly linked to a particular type of active institutional investors – hedge funds. … Insider Ownership Insiders form another group of important ownership types as they manage the company's operations and decide the best use of capital.
Simply Wall St - – Full articleGSC Company Info
Map
Description
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 Bogoso gold mining and processing operation, Prestea open-pit mining operations, and the Prestea underground development project 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.
Details
| Name: | Golden Star Resources Ltd. |
| GSC | |
| Exchange: | TSX |
| Founded: | 1992 |
| CA$562,532,190 | |
| 108,807,000 | |
| Website: | http://www.gsr.com |
| Address: |
Golden Star Resources Ltd. Sun Life Financial Tower, Suite 1200, Toronto, Ontario, M5H 1J9, Canada |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| TSX | GSC | Common Shares | The Toronto Stock Exchange | CA | CAD | 27. Jul 1987 | |
| AMEX | GSS | Common Shares | NYSE MKT LLC | US | USD | 27. Jul 1987 | |
| DB | GS51 | Common Shares | Deutsche Boerse AG | DE | EUR | 27. Jul 1987 | |
| GHSE | GSR | Common Shares | Ghana Stock Exchange | GH | GHS | 27. Jul 1987 |
Number of employees
Current staff
Industry
| Gold | |
| Materials |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/02/13 23:41 |
| End of day share price update: | 2019/02/13 00:00 |
| Last estimates confirmation: | 2019/02/07 |
| Last earnings filing: | 2018/10/31 |
| Last earnings reported: | 2018/09/30 |
| Last annual earnings reported: | 2017/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
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.
