Galiano Gold (NYSEAMERICAN:GAU) Shares Down 5% - Here's What Happened

Key Points

• Galiano Gold shares fell 5% to $2.385, while trading volume was 73% below the average daily volume.
• Analysts maintain a consensus Buy rating and a $3.85 price target, though one broker lowered its target to $3.45.
• Quarterly earnings were mixed: Galiano reported $0.09 per share, below the $0.12 estimate, while revenue of $172.14 million exceeded expectations.

Galiano Gold Inc. (NYSEAMERICAN:GAU - Get Free Report) was down 5% during trading on Wednesday. The company traded as low as $2.40 and last traded at $2.3850. 852,172 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 3,163,172 shares. The stock had previously closed at $2.51.

Analyst Ratings Changes

Several equities research analysts have weighed in on GAU shares. Zacks Research upgraded shares of Galiano Gold from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 26th. Freedom Broker decreased their price target on shares of Galiano Gold from $3.60 to $3.45 and set a "buy" rating for the company in a research note on Thursday, October 22nd. Finally, Canaccord Genuity Group upgraded Galiano Gold to a "strong-buy" rating in a research note on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Galiano Gold has an average rating of "Buy" and a consensus price target of $3.85.

Galiano Gold Price Performance

The stock's 50-day moving average price is $2.13 and its 200-day moving average price is $2.32. The company has a market cap of $624.99 million, a P/E ratio of 4.26 and a beta of 0.87.

Galiano Gold (NYSEAMERICAN:GAU - Get Free Report) last announced its earnings results on Thursday, November 5th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.03). Galiano Gold had a return on equity of 38.85% and a net margin of 23.19%. The business had revenue of $172.14 million for the quarter, compared to the consensus estimate of $161.75 million. As a group, analysts expect that Galiano Gold Inc. will post 0.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Cibc World Market Inc. increased its stake in shares of Galiano Gold by 10.4% in the 3rd quarter. Cibc World Market Inc. now owns 90,638 shares of the company's stock valued at $177,000 after purchasing an additional 8,572 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Galiano Gold by 394.3% in the third quarter. Russell Investments Group Ltd. now owns 591,510 shares of the company's stock valued at $1,148,000 after buying an additional 471,834 shares in the last quarter. U S Global Investors Inc. acquired a new stake in Galiano Gold in the third quarter valued at about $136,000. Net Worth Advisory Group boosted its stake in Galiano Gold by 11.3% in the third quarter. Net Worth Advisory Group now owns 106,845 shares of the company's stock valued at $208,000 after buying an additional 10,861 shares in the last quarter. Finally, Venture Visionary Partners LLC bought a new position in Galiano Gold in the third quarter valued at about $46,000. 66.82% of the stock is currently owned by institutional investors and hedge funds.

Galiano Gold Company Profile

Galiano Gold Inc. is a Canadian gold mining company focused on operating and developing gold assets in Ghana. Its principal asset is the Asanko Gold Mine, which produces gold from open-pit mining and processing operations. Galiano operates the Asanko mine and holds a 90% interest in it, with the Government of Ghana owning the remaining 10%. In 2024, Galiano acquired Gold Fields' 45% interest in the mine, becoming its majority owner. The company was formerly known as Asanko Gold and adopted the Galiano Gold name in 2020.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.