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Golden Star Resources Shares Popped: What You Need to Know

By Travis Hoium | More Articles
August 22, 2011 | Comments (1)

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Golden Star Resources (AMEX: GSS  ) surged 10% higher in a steady climb today as the price of gold hit a new record.

So what: Gold was an inch away from reaching $1,900 an ounce today, and that sent gold stocks soaring. Miners like Golden Star, Hecla Mining (NYSE: HL  ) , and Goldcorp (NYSE: GG  ) are all trading significantly higher because they are leveraged plays on the continuing gold run.

Now what: How high can gold go? There doesn't seem to be any end in sight to gold's run, and as long as that holds true, miners will benefit. There isn't any specific news about Golden Star today, so I don't see a reason to change your investing thesis. If you think gold is going higher, then buy; if you don't, sell. It's as simple as that.

Interested in more info on Golden Star Resources? Add it to your watchlist.

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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On August 22, 2011, at 9:41 PM, FlashCMA wrote:

    I don't think investors should base their decison on mining companies exclusively on the price of the commodity. There's so many other factors.

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Related Tickers

5/25/2012 4:00 PM
GSS $1.05 Up +0.03 +2.94%
Golden Star Resour… CAPS Rating: **
HL $4.50 Up +0.02 +0.50%
Hecla Mining Compa… CAPS Rating: ***
GG $37.70 Up +0.26 +0.69%
Goldcorp, Inc. (US… CAPS Rating: ***

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