The market loves penny stocks; the potential for gain returns is sky high. However, these stocks pose a few risks, particularly mining penny stocks. Depending on the trading day, penny stocks can see either good or bad results.
Today, Golden Star Resources (NYSE:GSS), a gold penny stock, is having a bad day. Not terrible, but not fantastic either.
Mining Penny Stocks: Golden Star Resources
Gold penny stocks are attractive, but one that trades on the NYSE tends to receive more attention. In this case, we’re talking about Golden Star Resources. As a gold penny stock, Golden Star Resources has an impressive standing with the business industry.
Two days ago (Sept. 3rd, 2018), the GSS share price was seen trading at $0.74. This sort of trading pattern comes roughly a month after the Golden Star earnings report was released, which showed significant improvements at various projects, including the Prestea Underground Gold Mine—gold output increased 67% in Q2 2018.
Not to mention the company recently expanded its gold mining operations to now include Ghana, Faso, and Niger. And, according to CEO Sam Coetzer, Golden Star Resources is “on track” to achieve “the consolidated full-year 2018 production and cost guidance.”
Mr. Coetzer also said the company is “well-positioned” to deliver value to shareholders.
Today, the GSS stock is telling a different story. As mentioned, however, these kinds of stocks have good and bad days. Therefore, GSS trading in the red today may not be a forever thing. In fact, it could be trading in the green with the other gold penny stocks tomorrow.
The GSS Stock
According to Yahoo Finance, as of 12:14 PM EDT, GSS is trading at $0.70, which means the stock is down 1.43%.
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The Takeaway
What do you think of today’s penny stock news involving Golden Star Resources? Are you bothered by a drop of nearly 2%, or do you understand that penny stocks often see these market results?
Featured Image: Depositphotos/© BrianAJackson
