Galiano Gold Inc. (NYSEAMERICAN:GAU) Stock Rated “Buy” by Sell-Side Analysts

Shares of Galiano Gold Inc. (NYSEAMERICAN:GAU) have been given an average recommendation of “Buy” by the six analysts that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $3.85.

Several equities analysts have commented on the company. Canaccord Genuity Group upgraded Galiano Gold to a “strong-buy” rating in a report on Thursday, August 13th. Zacks Research upgraded shares of Galiano Gold from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 26th. Finally, Freedom Broker decreased their price objective on shares of Galiano Gold from $3.60 to $3.45 and set a “buy” rating for the company in a report on Thursday.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GAU. Aegis Financial Corp boosted its holdings in Galiano Gold by 120.4% during the second quarter. Aegis Financial Corp now owns 14,125,317 shares of the company’s stock valued at $26,387,000 after acquiring an additional 7,715,996 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Galiano Gold by 10.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,872,117 shares of the company’s stock valued at $17,224,000 after purchasing an additional 672,133 shares during the last quarter. Pale Fire Capital SE increased its stake in shares of Galiano Gold by 25.9% in the second quarter. Pale Fire Capital SE now owns 5,036,654 shares of the company’s stock worth $9,419,000 after purchasing an additional 1,036,654 shares during the period. Renaissance Technologies LLC increased its stake in shares of Galiano Gold by 12.9% in the first quarter. Renaissance Technologies LLC now owns 5,006,653 shares of the company’s stock worth $12,567,000 after purchasing an additional 573,000 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Galiano Gold by 14.9% in the first quarter. Bank of America Corp DE now owns 3,907,638 shares of the company’s stock worth $9,808,000 after purchasing an additional 507,621 shares during the period. Institutional investors and hedge funds own 66.82% of the company’s stock.

Galiano Gold Stock Performance

Shares of NYSEAMERICAN GAU traded down $0.20 during mid-day trading on Thursday, reaching $2.09. 3,278,762 shares of the company traded hands, compared to its average volume of 3,210,908. The company’s fifty day moving average is $2.16 and its two-hundred day moving average is $2.16. Galiano Gold has a fifty-two week low of $1.66 and a fifty-two week high of $3.62. The stock has a market cap of $547.68 million, a PE ratio of 8.04 and a beta of 0.87.

Galiano Gold (NYSEAMERICAN:GAU) last posted its earnings results on Thursday, August 6th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). The company had revenue of $183.75 million during the quarter, compared to analyst estimates of $151.85 million. Galiano Gold had a return on equity of 35.34% and a net margin of 12.19%. Research analysts forecast that Galiano Gold will post 0.57 earnings per share for the current year.

About Galiano Gold

Galiano Gold Inc is a Canadian gold producer and exploration company focused on the acquisition, development and operation of gold assets in West Africa. The company’s primary asset is the Asanko Gold Mine in Ghana, which produces gold through open-pit mining and conventional processing operations.

Galiano Gold operates the Asanko Gold Mine through a partnership with the government of Ghana, which holds a minority interest. The mine is located in Ghana’s Ashanti Region, an established gold-producing area, and includes multiple open-pit deposits, processing facilities and additional exploration opportunities intended to support future mineral resource growth.

The company was formerly known as Asanko Gold Inc and adopted the Galiano Gold name in 2020.