Cormark Comments on Galiano Gold Inc.’s Q2 2024 Earnings (NYSEAMERICAN:GAU)

Galiano Gold Inc. (NYSEAMERICAN:GAU) – Research analysts at Cormark lifted their Q2 2024 earnings per share estimates for shares of Galiano Gold in a note issued to investors on Monday, April 29th. Cormark analyst R. Gray now forecasts that the company will post earnings per share of $0.05 for the quarter, up from their prior estimate of $0.02. The consensus estimate for Galiano Gold’s current full-year earnings is $0.19 per share.

A number of other brokerages have also recently commented on GAU. BMO Capital Markets lifted their price target on Galiano Gold from $1.50 to $2.25 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. HC Wainwright boosted their target price on Galiano Gold from $2.20 to $4.30 and gave the company a “buy” rating in a research note on Monday.

Galiano Gold Stock Down 2.1 %

Shares of Galiano Gold stock opened at $1.62 on Tuesday. The stock has a 50 day moving average of $0.61. The stock has a market cap of $409.63 million, a PE ratio of 14.68 and a beta of 1.12. Galiano Gold has a one year low of $0.52 and a one year high of $1.73.

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

Institutional Investors Weigh In On Galiano Gold

Several hedge funds have recently made changes to their positions in the company. Equinox Partners Investment Management LLC boosted its holdings 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 in the last quarter. Donald Smith & CO. Inc. boosted its holdings 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 in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Galiano Gold in the fourth quarter worth $1,500,000. Finally, Sapient Capital LLC bought a new stake in Galiano Gold in the first quarter worth $279,000. 66.82% of the stock is currently owned by 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.