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

Galiano Gold (NYSEAMERICAN:GAU) released its quarterly earnings data 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 return on equity of 35.34% and a net margin of 12.19%. The business had revenue of $172.14 million during the quarter, compared to analyst estimates of $161.75 million.

Galiano Gold Stock Up 17.9%

Shares of Galiano Gold stock traded up $0.38 during midday trading on Friday, hitting $2.50. The company’s stock had a trading volume of 5,785,863 shares, compared to its average volume of 2,527,191. Galiano Gold has a 1-year low of $1.66 and a 1-year high of $3.62. The firm has a market capitalization of $655.12 million, a P/E ratio of 5.76 and a beta of 0.87. The stock has a 50-day simple moving average of $2.11 and a 200-day simple moving average of $2.33.

Analyst Upgrades and Downgrades

GAU has been the topic of several research analyst reports. Canaccord Genuity Group raised shares of Galiano Gold to a “strong-buy” rating in a research note on Thursday, August 13th. Zacks Research raised shares of Galiano Gold from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 26th. Finally, Freedom Broker decreased their price objective on shares of Galiano Gold from $3.60 to $3.45 and set a “buy” rating for the company in a report on Thursday, October 22nd. Two 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. Based on data from MarketBeat, Galiano Gold presently has an average rating of “Buy” and an average price target of $3.85.

Galiano Gold Company Profile

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.