Galiano Gold (TSE:GAU) Stock Jumps 6.9% - Time to Buy?

Key Points

• Galiano Gold shares rose 6.9% to C$2.96, with trading volume below the stock’s average daily level.
• Analysts remain broadly positive: the stock has a consensus “Buy” rating and a C$5.50 target price, implying substantial upside from its current price.
• The company reported C$0.13 in quarterly earnings per share on C$222.45 million in revenue, while insider ownership stands at 23.08%; one insider recently bought 25,000 shares, although another sold 37,334 shares.

Galiano Gold Inc. (TSE:GAU - Get Free Report)'s share price rose 6.9% during trading on Thursday. The stock traded as high as C$3.00 and last traded at C$2.96. Approximately 228,535 shares traded hands during trading, a decline of 58% from the average daily volume of 545,418 shares. The stock had previously closed at C$2.77.

Analyst Ratings Changes

Separately, Canaccord Genuity Group set a C$5.50 price objective on Galiano Gold and gave the stock a "buy" rating in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of C$5.50.

Galiano Gold Stock Performance

The company has a quick ratio of 15.77, a current ratio of 1.23 and a debt-to-equity ratio of 23.50. The stock has a market cap of C$776.93 million, a price-to-earnings ratio of 11.00, a PEG ratio of 0.15 and a beta of 2.74. The stock's fifty day moving average is C$2.93 and its 200-day moving average is C$3.02.

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

Insider Activity

In other Galiano Gold news, insider Michael Cardinaels bought 25,000 shares of Galiano Gold stock in a transaction on Tuesday, September 29th. The shares were purchased at an average cost of C$2.70 per share, for a total transaction of C$67,500.00. Following the completion of the acquisition, the insider owned 45,000 shares in the company, valued at approximately C$121,500. The trade was a 125.00% increase in their position. Also, insider Sean Gregersen sold 37,334 shares of the business's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of C$2.92, for a total value of C$109,015.28. Insiders own 23.08% of the company's stock.

About Galiano Gold

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.

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