Galiano Gold (NYSEAMERICAN:GAU) Given New $3.45 Price Target at Freedom Broker

Galiano Gold (NYSEAMERICAN:GAU) had its target price reduced by equities researchers at Freedom Broker from $3.60 to $3.45 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Freedom Broker‘s price objective indicates a potential upside of 65.07% from the company’s previous close.

A number of other equities analysts have also commented on GAU. Zacks Research upgraded Galiano Gold from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 26th. 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 issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Galiano Gold has an average rating of “Buy” and an average target price of $3.85.

Galiano Gold Price Performance

NYSEAMERICAN:GAU traded down $0.20 during midday trading on Thursday, reaching $2.09. The stock had a trading volume of 3,274,557 shares, compared to its average volume of 3,209,654. Galiano Gold has a 1-year low of $1.66 and a 1-year high of $3.62. The firm’s fifty day simple moving average is $2.16 and its 200-day simple moving average is $2.16. The stock has a market capitalization of $547.68 million, a P/E ratio of 8.04 and a beta of 0.87.

Galiano Gold (NYSEAMERICAN:GAU) last released its earnings results on Thursday, August 6th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). Galiano Gold had a return on equity of 35.34% and a net margin of 12.19%. The firm had revenue of $183.75 million for the quarter, compared to analyst estimates of $151.85 million. On average, equities research analysts anticipate that Galiano Gold will post 0.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Galiano Gold

Large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd bought a new stake in Galiano Gold in the 4th quarter valued at $55,000. Venture Visionary Partners LLC acquired a new stake in Galiano Gold in the 3rd quarter worth $46,000. Two Sigma Securities LLC increased its holdings in shares of Galiano Gold by 65.4% during the 2nd quarter. Two Sigma Securities LLC now owns 24,862 shares of the company’s stock worth $46,000 after purchasing an additional 9,828 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Galiano Gold during the 1st quarter worth about $139,000. Finally, Net Worth Advisory Group increased its holdings in shares of Galiano Gold by 11.3% during the 3rd quarter. Net Worth Advisory Group now owns 106,845 shares of the company’s stock worth $208,000 after purchasing an additional 10,861 shares during the period. 66.82% of the stock is currently owned by institutional investors and hedge funds.

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.