Shares of Galiano Gold Inc. (NYSEAMERICAN:GAU – Get Free Report) crossed above its fifty day moving average during trading on Thursday following a stronger than expected earnings report. The stock has a fifty day moving average of $2.11 and traded as high as $2.1750. Galiano Gold shares last traded at $2.12, with a volume of 3,164,323 shares.
The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). Galiano Gold had a net margin of 12.19% and a return on equity of 35.34%.
Analyst Ratings Changes
A number of equities research analysts have issued reports on GAU shares. Canaccord Genuity Group raised Galiano Gold to a “strong-buy” rating in a research report on Thursday, August 13th. Freedom Broker dropped their price target on shares of Galiano Gold from $3.60 to $3.45 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. Finally, Zacks Research raised shares of Galiano Gold from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $3.85.
Get Our Latest Stock Report on Galiano Gold
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the company. 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 lifted its position in shares of Galiano Gold by 14.9% during the 1st 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 last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.
Galiano Gold Trading Up 1.9%
The firm has a market cap of $555.55 million, a price-to-earnings ratio of 8.15 and a beta of 0.87. The firm has a 50-day moving average of $2.11 and a two-hundred day moving average of $2.33.
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.
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