Galiano Gold Inc. Forecasted to Post Q2 2024 Earnings of $0.03 Per Share (NYSEAMERICAN:GAU)

Galiano Gold Inc. (NYSEAMERICAN:GAU) – Analysts at Cormark cut their Q2 2024 earnings estimates for Galiano Gold in a research report issued on Monday, May 6th. Cormark analyst R. Gray now expects that the company will post earnings per share of $0.03 for the quarter, down from their prior forecast of $0.05. The consensus estimate for Galiano Gold’s current full-year earnings is $0.27 per share. Cormark also issued estimates for Galiano Gold’s Q3 2024 earnings at $0.09 EPS and Q4 2024 earnings at $0.13 EPS.

Several other equities research analysts have also weighed in on GAU. BMO Capital Markets upped their price objective on Galiano Gold from $1.50 to $2.25 and gave the company an “outperform” rating in a research note on Thursday, March 7th. HC Wainwright lifted their price objective on Galiano Gold from $4.30 to $4.40 and gave the company a “buy” rating in a report on Tuesday.

Galiano Gold Price Performance

Shares of NYSEAMERICAN:GAU opened at $1.71 on Thursday. The firm has a market cap of $433.72 million, a price-to-earnings ratio of 34.20 and a beta of 1.08. Galiano Gold has a 1-year low of $0.52 and a 1-year high of $1.85. The stock’s 50 day moving average price is $0.61.

Galiano Gold (NYSEAMERICAN:GAU) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). The company had revenue of $31.70 million during the quarter.

Hedge Funds Weigh In On Galiano Gold

Hedge funds have recently added to or reduced their stakes in the stock. Sapient Capital LLC bought a new stake in shares of Galiano Gold in the 1st quarter valued at $279,000. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of Galiano Gold during the fourth quarter worth about $1,500,000. Donald Smith & CO. Inc. lifted its holdings 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 purchasing an additional 4,817,585 shares in the last quarter. Finally, Equinox Partners Investment Management LLC grew its position in shares of Galiano Gold by 60.5% in the 4th quarter. Equinox Partners Investment Management LLC now owns 35,563,436 shares of the company’s stock valued at $32,762,000 after purchasing an additional 13,402,496 shares during the period. Institutional investors and hedge funds own 66.82% of the company’s stock.

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.