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

Galiano Gold (NYSEAMERICAN:GAU) released its earnings results on Thursday. The company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02), reports. The firm had revenue of $31.70 million for the quarter.

Galiano Gold Stock Down 1.8 %

Shares of GAU stock opened at $1.65 on Friday. The stock’s 50-day moving average price is $0.61. Galiano Gold has a 12 month low of $0.52 and a 12 month high of $1.77. The stock has a market capitalization of $418.51 million, a P/E ratio of 33.00 and a beta of 1.08.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Equinox Partners Investment Management LLC increased its stake in Galiano Gold by 1.9% during the 1st quarter. Equinox Partners Investment Management LLC now owns 36,225,936 shares of the company’s stock worth $50,300,000 after buying an additional 662,500 shares during the period. Donald Smith & CO. Inc. raised its stake in shares of Galiano Gold by 39.3% in the fourth quarter. Donald Smith & CO. Inc. now owns 17,089,969 shares of the company’s stock valued at $16,063,000 after acquiring an additional 4,817,585 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in Galiano Gold in the fourth quarter valued at $1,500,000. Finally, Sapient Capital LLC acquired a new position in Galiano Gold during the 1st quarter worth $279,000. 66.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GAU has been the topic of a number of analyst reports. BMO Capital Markets raised their price objective on shares of 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 raised their price target on shares of Galiano Gold from $2.20 to $4.30 and gave the company a “buy” rating in a research report on Monday, April 29th.

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.