Freedom Broker Has Lowered Expectations for Galiano Gold (NYSEAMERICAN:GAU) Stock Price

Key Points

• Freedom Broker lowered Galiano Gold’s price target from $3.60 to $3.45 but maintained a “buy” rating, implying approximately 65% upside from the stock’s $2.09 price.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $3.85; recommendations include two Strong Buys, two Buys and two Holds.
• Galiano Gold reported $0.09 in quarterly EPS, slightly below the $0.10 estimate, while revenue of $183.75 million exceeded expectations. Institutional investors own 66.82% of the company.

Galiano Gold (NYSEAMERICAN:GAU - Get Free Report) had its price objective lowered by research analysts at Freedom Broker from $3.60 to $3.45 in a research report issued on Thursday, Benzinga reports. The firm presently has a "buy" rating on the stock. Freedom Broker's price target indicates a potential upside of 65.07% from the company's current price.

Other equities research analysts also recently issued reports about the company. Canaccord Genuity Group raised Galiano Gold to a "strong-buy" rating in a research note on Thursday, August 13th. Zacks Research raised Galiano Gold from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $3.85.

Galiano Gold Stock Performance

Shares of NYSEAMERICAN GAU traded down $0.20 during mid-day trading on Thursday, reaching $2.09. The company had a trading volume of 3,274,557 shares, compared to its average volume of 3,209,654. Galiano Gold has a twelve month low of $1.66 and a twelve month high of $3.62. The stock has a market capitalization of $547.68 million, a PE ratio of 8.04 and a beta of 0.87. The stock's 50 day moving average is $2.16 and its 200-day moving average is $2.16.

Galiano Gold (NYSEAMERICAN:GAU - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.09 earnings per share (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 firm had revenue of $183.75 million for the quarter, compared to analyst estimates of $151.85 million. On average, sell-side analysts anticipate that Galiano Gold will post 0.57 EPS for the current year.

Institutional Trading of Galiano Gold

Institutional investors and hedge funds have recently made changes to their positions in the stock. Aegis Financial Corp boosted its stake in shares of Galiano Gold by 120.4% during the 2nd quarter. Aegis Financial Corp now owns 14,125,317 shares of the company's stock worth $26,387,000 after acquiring an additional 7,715,996 shares in the last quarter. Walleye Capital LLC increased its holdings in shares of Galiano Gold by 5,413.7% during the 1st quarter. Walleye Capital LLC now owns 1,477,180 shares of the company's stock valued at $3,708,000 after acquiring an additional 1,450,389 shares during the last quarter. Pale Fire Capital SE raised its stake in shares of Galiano Gold by 25.9% in 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 in the last quarter. Lazard Asset Management LLC bought a new position in shares of Galiano Gold in the 1st quarter valued at approximately $1,931,000. Finally, Arrowstreet Capital Limited Partnership lifted 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 worth $17,224,000 after purchasing an additional 672,133 shares during the last quarter. Institutional investors and hedge funds own 66.82% of the company's stock.

Galiano Gold Company Profile

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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