Galiano Gold (NYSEAMERICAN:GAU) Upgraded by Zacks Research to "Hold" Rating

Key Points

• Zacks Research upgraded Galiano Gold from “strong sell” to “hold,” while the broader analyst consensus remains “Buy” with an average price target of $4.25.
• Galiano Gold opened at $2.41, with shares ranging from $1.66 to $3.62 over the past year. The company reported quarterly EPS of $0.09, slightly below estimates, but revenue of $183.75 million exceeded expectations.
• Institutional investors own 66.82% of the company, with several hedge funds increasing their positions during the latest reporting periods.

Galiano Gold (NYSEAMERICAN:GAU - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Wednesday,Zacks.com reports.

A number of other research analysts also recently issued reports on the stock. Canaccord Genuity Group upgraded shares of Galiano Gold to a "strong-buy" rating in a research report on Thursday, August 13th. Freedom Capital upgraded shares of Galiano Gold from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $4.25.

Galiano Gold Price Performance

Galiano Gold stock opened at $2.41 on Wednesday. Galiano Gold has a one year low of $1.66 and a one year high of $3.62. The firm has a market cap of $630.00 million, a PE ratio of 9.27 and a beta of 0.86. The stock's fifty day moving average price is $1.97 and its two-hundred day moving average price is $2.35.

Galiano Gold (NYSEAMERICAN:GAU - Get Free Report) last released its earnings results 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 business had revenue of $183.75 million during the quarter, compared to the consensus estimate of $151.85 million. Sell-side analysts expect that Galiano Gold will post 0.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Galiano Gold

Several large investors have recently modified their holdings of the business. Pale Fire Capital SE raised its stake in Galiano Gold by 25.9% in the second quarter. Pale Fire Capital SE now owns 5,036,654 shares of the company's stock valued at $9,419,000 after purchasing an additional 1,036,654 shares in the last quarter. Two Sigma Securities LLC grew its stake in Galiano Gold by 65.4% in the 2nd quarter. Two Sigma Securities LLC now owns 24,862 shares of the company's stock worth $46,000 after buying an additional 9,828 shares in the last quarter. Aegis Financial Corp grew 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 in the last quarter. Bank of America Corp DE increased its holdings in shares of Galiano Gold by 14.9% in the 1st quarter. Bank of America Corp DE now owns 3,907,638 shares of the company's stock worth $9,808,000 after buying an additional 507,621 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of Galiano Gold in the 1st quarter worth $1,931,000. Hedge funds and other institutional investors own 66.82% of the company's stock.

Galiano Gold Company Profile

Galiano Gold Incorporated is a Canada-based gold exploration and development company listed on the NYSE American under the symbol GAU. The company's primary focus is the acquisition, exploration and advancement of gold deposits in the Americas. Galiano Gold pursues a value-driven strategy to build gold resources by identifying high-potential projects, conducting systematic drilling programs and advancing resource definition toward a development decision.

Galiano Gold's flagship asset is the Oko West and Oko East gold project located in the Essequibo region of Guyana, where multiple oxide and primary gold mineralized zones have been outlined through extensive drilling.

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