Pareto Upgrades Golden Ocean Group Ltd to Buy

Brokerage firm Pareto Upgrades its rating on Golden Ocean Group Ltd(GOGL). The shares have been rated Buy. The rating by the stock financial advisor at Pareto was issued on Mar 15, 2017 in a research report to their Investors and Clients.

In a different note, On Mar 1, 2017, JP Morgan said it Upgrades its rating on Golden Ocean Group Ltd. The shares have been rated ‘Neutral’ by the firm.

Golden Ocean Group Ltd (GOGL) made into the market gainers list on Fridays trading session with the shares advancing 2.51% or 0.2 points. Due to strong positive momentum, the stock ended at $8.17, which is also near the day’s high of $8.3. The stock began the session at $8.11 and the volume stood at 6,28,327 shares. The 52-week high of the shares is $8.3 and the 52 week low is $3.055. The company has a current market capitalization of $866 M and it has 10,59,65,192 shares in outstanding.

Golden Ocean Group Limited formerly Knightsbridge Shipping Limited is an international shipping company. The Company is engaged in the transportation of dry bulk cargoes. As of March 31 2015 it owned 47 vessels and has 25 new buildings under construction. In addition it has four vessels chartered-in and one vessel owned through a joint venture. Six of the vessels are chartered out on fixed rate time charters and the remainders operate in the spot market or are fixed on index-linked time charter contract. As of March 31 2015 the Company owned 18 Capesize dry bulk carriers of which three were on index-related time charters and 15 were operating in the spot market. The Company’s 181000 dead weight tons Capesize vessels include KSL Salvador KSL San Francisco KSL Santiago KSL Seattle KSL Seville KSL Sapporo and KSL Stockholm among others. Its 180000 dead weight tons Capesize newbuildings include KSL Aso KSL Barnet KSL Finsbury KSL Shanghai and KSL Bexley among others.

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