Galiano Gold (NYSEAMERICAN:GAU) Releases Quarterly Earnings Results, Meets Estimates

Galiano Gold (NYSEAMERICAN:GAU) announced its earnings results on Thursday. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02), reports. The business had revenue of $31.70 million during the quarter.

Galiano Gold Stock Performance

GAU opened at $1.65 on Friday. Galiano Gold has a 12 month low of $0.52 and a 12 month high of $1.77. The company has a fifty day moving average price of $0.61. The company has a market cap of $418.51 million, a PE ratio of 33.60 and a beta of 1.08.

Institutional Trading of Galiano Gold

A number of large investors have recently made changes to their positions in GAU. Sapient Capital LLC acquired a new position in Galiano Gold in the 1st quarter worth $279,000. Equinox Partners Investment Management LLC lifted its stake in Galiano Gold by 1.9% in 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 purchasing an additional 662,500 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Galiano Gold in the 4th quarter valued at about $1,500,000. Finally, Donald Smith & CO. Inc. lifted its stake in 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 purchasing an additional 4,817,585 shares during the last quarter. Institutional investors own 66.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GAU shares. HC Wainwright boosted their price objective on shares of Galiano Gold from $2.20 to $4.30 and gave the stock a “buy” rating in a research report on Monday, April 29th. BMO Capital Markets boosted their price objective on shares of Galiano Gold from $1.50 to $2.25 and gave the stock an “outperform” rating in a research report on Thursday, March 7th.

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.