Galiano Gold (TSE:GAU) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

Galiano Gold Inc. (TSE:GAU)’s share price crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of C$2.96 and traded as high as C$3.03. Galiano Gold shares last traded at C$2.99, with a volume of 712,338 shares.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group set a C$5.50 target price on shares of Galiano Gold and gave the stock a “buy” rating in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$5.50.

Galiano Gold Stock Up 2.0%

The company has a market cap of C$782.16 million, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 0.15 and a beta of 2.65. The company has a 50 day moving average of C$2.96 and a 200-day moving average of C$3.22. The company has a debt-to-equity ratio of 23.50, a current ratio of 1.23 and a quick ratio of 15.77.

Galiano Gold (TSE:GAU) last posted its earnings results on Thursday, August 6th. The company reported C$0.13 EPS for the quarter. The business had revenue of C$222.45 million during the quarter. Galiano Gold had a return on equity of 28.60% and a net margin of 11.96%.

Insider Activity

In other news, insider Sean Gregersen sold 37,334 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of C$2.92, for a total transaction of C$109,015.28. Also, insider Michael Cardinaels acquired 25,000 shares of the business’s stock in a transaction dated Tuesday, September 29th. The shares were acquired at an average cost of C$2.70 per share, with a total value of C$67,500.00. Following the acquisition, the insider directly owned 45,000 shares of the company’s stock, valued at C$121,500. This represents a 125.00% increase in their position. Company insiders own 23.08% of the company’s stock.

Galiano Gold Company Profile

Galiano is focused on creating a sustainable business capable of value creation for all stakeholders through production, exploration and disciplined deployment of its financial resources. The Company owns the Asanko Gold Mine, which is located in Ghana, West Africa. Galiano is committed to the highest standards for environmental management, social responsibility, and the health and safety of its employees and neighbouring communities.