HC Wainwright Boosts Galiano Gold (NYSEAMERICAN:GAU) Price Target to $4.40

Galiano Gold (NYSEAMERICAN:GAU) had its price objective raised by HC Wainwright from $4.30 to $4.40 in a research report released on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock. HC Wainwright also issued estimates for Galiano Gold’s FY2024 earnings at $0.22 EPS and FY2025 earnings at $0.58 EPS.

Separately, BMO Capital Markets increased their price target on shares of Galiano Gold from $1.50 to $2.25 and gave the company an outperform rating in a report on Thursday, March 7th.

Galiano Gold Trading Down 2.3 %

NYSEAMERICAN:GAU opened at $1.71 on Tuesday. The firm’s 50 day moving average price is $0.61. Galiano Gold has a 52 week low of $0.52 and a 52 week high of $1.85. The stock has a market capitalization of $433.72 million, a PE ratio of 34.20 and a beta of 1.08.

Galiano Gold (NYSEAMERICAN:GAU) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). The firm had revenue of $31.70 million for the quarter. On average, sell-side analysts forecast that Galiano Gold will post 0.27 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Equinox Partners Investment Management LLC raised its position in Galiano Gold by 60.5% in the fourth quarter. Equinox Partners Investment Management LLC now owns 35,563,436 shares of the company’s stock worth $32,762,000 after acquiring an additional 13,402,496 shares during the period. Donald Smith & CO. Inc. raised its position in Galiano Gold by 39.3% in the fourth quarter. Donald Smith & CO. Inc. now owns 17,089,969 shares of the company’s stock worth $16,063,000 after acquiring an additional 4,817,585 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Galiano Gold in the fourth quarter worth approximately $1,500,000. Finally, Sapient Capital LLC bought a new position in Galiano Gold in the first quarter worth approximately $279,000. Institutional investors 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.