Galiano Gold (NYSEAMERICAN:GAU) Announces Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Galiano Gold (NYSEAMERICAN:GAU) released its quarterly earnings results on Thursday. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03), Zacks reports. Galiano Gold had a net margin of 12.19% and a return on equity of 35.34%. The company had revenue of $172.14 million during the quarter, compared to analysts’ expectations of $161.75 million.

Galiano Gold Stock Up 17.9%

GAU traded up $0.38 during trading on Friday, hitting $2.50. 5,785,863 shares of the company traded hands, compared to its average volume of 2,527,191. Galiano Gold has a one year low of $1.66 and a one year high of $3.62. The stock’s fifty day moving average is $2.11 and its 200 day moving average is $2.33. The firm has a market cap of $655.12 million, a P/E ratio of 5.76 and a beta of 0.87.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GAU shares. Freedom Broker dropped their price target on shares of Galiano Gold from $3.60 to $3.45 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. Zacks Research raised shares of Galiano Gold from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 26th. Finally, Canaccord Genuity Group upgraded shares of 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 issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Galiano Gold has a consensus rating of “Buy” and a consensus price target of $3.85.

About Galiano Gold

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.