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

Galiano Gold Inc. (NYSEAMERICAN:GAU) – Analysts at Cormark increased their Q2 2024 EPS estimates for shares of Galiano Gold in a research report issued 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 previous forecast of $0.02. The consensus estimate for Galiano Gold’s current full-year earnings is $0.19 per share.

Galiano Gold (NYSEAMERICAN:GAU) last posted its quarterly earnings results on Friday, February 16th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.05).

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

Galiano Gold Stock Up 4.7 %

GAU stock opened at $1.68 on Tuesday. The stock has a market cap of $424.85 million, a P/E ratio of 15.23 and a beta of 1.12. Galiano Gold has a 12 month low of $0.52 and a 12 month high of $1.73. The business has a 50-day moving average of $0.61.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Equinox Partners Investment Management LLC boosted its holdings 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 buying an additional 13,402,496 shares in the last quarter. Donald Smith & CO. Inc. boosted its holdings in shares of Galiano Gold by 39.3% in 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 bought a new stake in shares of Galiano Gold in the 4th quarter valued at about $1,500,000. Finally, Sapient Capital LLC bought a new stake in shares of Galiano Gold in the 1st quarter valued at about $279,000. Hedge funds and other 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.