Galiano Gold (NYSEAMERICAN:GAU) Shares Up 5.5% – What’s Next?

Galiano Gold Inc. (NYSEAMERICAN:GAU)’s share price traded up 5.5% during trading on Thursday. The company traded as high as $2.07 and last traded at $2.0580. Approximately 486,342 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 3,220,904 shares. The stock had previously closed at $1.95.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on GAU shares. Canaccord Genuity Group raised shares of Galiano Gold to a “strong-buy” rating in a research note 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. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $4.25.

Galiano Gold Stock Up 4.3%

The company has a market capitalization of $573.89 million, a price-to-earnings ratio of 8.42 and a beta of 0.87. The stock has a fifty day moving average price of $2.12 and a two-hundred day moving average price of $2.17.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Aegis Financial Corp boosted its stake in Galiano Gold by 120.4% in the 2nd quarter. Aegis Financial Corp now owns 14,125,317 shares of the company’s stock worth $26,387,000 after buying an additional 7,715,996 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Galiano Gold by 10.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,872,117 shares of the company’s stock valued at $17,224,000 after buying an additional 672,133 shares during the period. Pale Fire Capital SE increased its stake in shares of Galiano Gold by 25.9% during the 2nd quarter. Pale Fire Capital SE now owns 5,036,654 shares of the company’s stock valued at $9,419,000 after acquiring an additional 1,036,654 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Galiano Gold by 12.9% during the 1st quarter. Renaissance Technologies LLC now owns 5,006,653 shares of the company’s stock valued at $12,567,000 after acquiring an additional 573,000 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings 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 acquiring an additional 507,621 shares during the period. 66.82% of the stock is currently owned by institutional investors and hedge funds.

About Galiano Gold

Galiano Gold Inc is a Canadian gold exploration, development and production company focused on West Africa. The company’s primary asset is the Asanko Gold Mine, an open-pit mining operation located in Ghana’s Ashanti Region.

Galiano serves as operator of the Asanko Gold Mine, which it jointly owns with Gold Fields Limited and the government of Ghana. The operation produces gold doré and includes a processing plant, open-pit mining areas and associated infrastructure. Galiano also conducts exploration and resource-development activities in the surrounding region.

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