Cormark Comments on Galiano Gold Inc.’s Q3 2024 Earnings (NYSEAMERICAN:GAU)

Galiano Gold Inc. (NYSEAMERICAN:GAU) – Equities researchers at Cormark dropped their Q3 2024 earnings estimates for Galiano Gold in a note issued to investors on Thursday, April 18th. Cormark analyst R. Gray now anticipates that the company will earn $0.08 per share for the quarter, down from their previous estimate of $0.12. The consensus estimate for Galiano Gold’s current full-year earnings is $0.27 per share. Cormark also issued estimates for Galiano Gold’s Q4 2024 earnings at $0.11 EPS, FY2024 earnings at $0.19 EPS, FY2025 earnings at $0.94 EPS and FY2026 earnings at $0.49 EPS.

Galiano Gold (NYSEAMERICAN:GAU) last issued its earnings results on Friday, February 16th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.05).

GAU has been the subject of several other reports. HC Wainwright reissued a “buy” rating and issued a $2.20 price target on shares of Galiano Gold in a research report on Tuesday, February 20th. BMO Capital Markets boosted their target price on shares of Galiano Gold from $1.50 to $2.25 and gave the stock an “outperform” rating in a report on Thursday, March 7th.

Galiano Gold Price Performance

GAU stock opened at $1.49 on Friday. Galiano Gold has a 1-year low of $0.52 and a 1-year high of $1.60. The company has a 50-day moving average price of $0.61. The company has a market capitalization of $376.66 million, a P/E ratio of 13.50 and a beta of 1.12.

Institutional Trading of Galiano Gold

Institutional investors and hedge funds have recently bought and sold shares of the business. Equinox Partners Investment Management LLC boosted its stake in shares of Galiano Gold by 1.9% in the first quarter. Equinox Partners Investment Management LLC now owns 36,225,936 shares of the company’s stock worth $50,300,000 after buying an additional 662,500 shares during the last quarter. Donald Smith & CO. Inc. boosted its position in Galiano Gold by 39.3% in the 4th quarter. Donald Smith & CO. Inc. now owns 17,089,969 shares of the company’s stock worth $16,063,000 after purchasing an additional 4,817,585 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Galiano Gold by 2.6% during the 1st quarter. Franklin Resources Inc. now owns 12,857,262 shares of the company’s stock worth $7,515,000 after purchasing an additional 322,500 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Galiano Gold by 9.2% during the 2nd quarter. Renaissance Technologies LLC now owns 2,984,577 shares of the company’s stock valued at $1,761,000 after purchasing an additional 250,624 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in shares of Galiano Gold in the 4th quarter valued at $1,500,000. 66.82% of the stock is currently owned by institutional investors and hedge funds.

About Galiano Gold

Galiano Gold Inc engages in the exploration and evaluation of gold properties in Canada. Its flagship asset is the Asanko Gold Mine that covers an area of approximately 21,000 hectares located in Ghana, West Africa. The company was formerly known as Asanko Gold Inc and changed its name to Galiano Gold Inc in May 2020.