Brokers Issue Forecasts for Galiano Gold Inc.’s Q2 2024 Earnings (NYSEAMERICAN:GAU)

Galiano Gold Inc. (NYSEAMERICAN:GAU) – Cormark raised their Q2 2024 EPS estimates for Galiano Gold in a report released on Monday, April 29th. Cormark analyst R. Gray now forecasts that the company will post earnings of $0.05 per share for the quarter, up from their previous forecast of $0.02. The consensus estimate for Galiano Gold’s current full-year earnings is $0.19 per share.

Other research analysts have also recently issued reports about the stock. HC Wainwright boosted their target price on shares of Galiano Gold from $2.20 to $4.30 and gave the company a “buy” rating in a research note on Monday. BMO Capital Markets boosted their target price on shares of Galiano Gold from $1.50 to $2.25 and gave the company an “outperform” rating in a research note on Thursday, March 7th.

Galiano Gold Stock Up 4.7 %

Shares of GAU stock opened at $1.68 on Tuesday. Galiano Gold has a 52-week low of $0.52 and a 52-week high of $1.73. The stock has a 50-day moving average price of $0.61. The company has a market cap of $424.85 million, a P/E ratio of 15.23 and a beta of 1.12.

Galiano Gold (NYSEAMERICAN:GAU) last issued its quarterly earnings data on Friday, February 16th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.05).

Institutional Trading of Galiano Gold

Several institutional investors and hedge funds have recently bought and sold shares of the company. Equinox Partners Investment Management LLC raised its position in shares of Galiano Gold by 1.9% during the 1st quarter. Equinox Partners Investment Management LLC now owns 36,225,936 shares of the company’s stock valued at $50,300,000 after buying an additional 662,500 shares in the last quarter. Donald Smith & CO. Inc. raised its position in shares of Galiano Gold by 39.3% during the 4th quarter. Donald Smith & CO. Inc. now owns 17,089,969 shares of the company’s stock valued at $16,063,000 after buying an additional 4,817,585 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Galiano Gold during the 4th quarter valued at $1,500,000. Finally, Sapient Capital LLC purchased a new stake in shares of Galiano Gold during the 1st quarter valued at $279,000. 66.82% of the stock is currently owned by hedge funds and other institutional investors.

About Galiano Gold

Galiano Gold Inc engages in the exploration and evaluation of gold properties in Canada. Its flagship asset is the Asanko Gold Mine that covers an area of approximately 21,000 hectares located in Ghana, West Africa. The company was formerly known as Asanko Gold Inc and changed its name to Galiano Gold Inc in May 2020.