Cormark Issues Optimistic Estimate for Galiano Gold Earnings

Galiano Gold Inc. (NYSEAMERICAN:GAU - Free Report) - Equities researchers at Cormark raised their FY2024 earnings per share (EPS) estimates for Galiano Gold in a note issued to investors on Monday, November 11th. Cormark analyst R. Gray now anticipates that the company will earn $0.23 per share for the year, up from their previous estimate of $0.11. The consensus estimate for Galiano Gold's current full-year earnings is $0.13 per share. Cormark also issued estimates for Galiano Gold's Q4 2024 earnings at $0.10 EPS and FY2025 earnings at $0.68 EPS.

Separately, HC Wainwright raised their price objective on shares of Galiano Gold from $4.20 to $4.60 and gave the company a "buy" rating in a research note on Tuesday.

Galiano Gold Stock Down 0.3 %

Shares of GAU traded down $0.01 during trading hours on Thursday, reaching $1.45. The stock had a trading volume of 153,074 shares, compared to its average volume of 985,014. Galiano Gold has a 12 month low of $0.55 and a 12 month high of $2.00. The stock has a market cap of $371.28 million, a P/E ratio of -72.00 and a beta of 1.10.

Institutional Investors Weigh In On Galiano Gold

Several large investors have recently modified their holdings of the stock. Donald Smith & CO. Inc. grew its holdings in Galiano Gold by 33.3% during the third quarter. Donald Smith & CO. Inc. now owns 23,881,323 shares of the company's stock valued at $33,911,000 after purchasing an additional 5,961,685 shares during the period. Acadian Asset Management LLC lifted its position in shares of Galiano Gold by 186.2% during the 2nd quarter. Acadian Asset Management LLC now owns 944,190 shares of the company's stock valued at $1,613,000 after buying an additional 614,316 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Galiano Gold by 208.8% during the 2nd quarter. Marshall Wace LLP now owns 1,498,359 shares of the company's stock worth $2,577,000 after acquiring an additional 1,013,141 shares during the period. Virtu Financial LLC purchased a new stake in Galiano Gold in the 1st quarter worth about $118,000. Finally, Van ECK Associates Corp lifted its holdings in Galiano Gold by 43.3% during the third quarter. Van ECK Associates Corp now owns 6,854,000 shares of the company's stock valued at $9,733,000 after purchasing an additional 2,070,000 shares during the last quarter. Hedge funds and other institutional investors own 66.82% of the company's stock.

Galiano Gold Company Profile

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.