Cormark Has Negative Outlook of Galiano Gold Q4 Earnings

Galiano Gold Inc. (NYSEAMERICAN:GAU) – Investment analysts at Cormark reduced their Q4 2024 EPS estimates for shares of Galiano Gold in a note issued to investors on Thursday, January 16th. Cormark analyst R. Gray now expects that the company will post earnings of $0.08 per share for the quarter, down from their previous estimate of $0.10. The consensus estimate for Galiano Gold’s current full-year earnings is $0.08 per share.

Galiano Gold (NYSEAMERICAN:GAU) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.03 by $0.04. The company had revenue of $71.13 million for the quarter.

GAU has been the topic of a number of other reports. Eight Capital raised Galiano Gold to a “strong-buy” rating in a research note on Tuesday, November 19th. HC Wainwright reissued a “buy” rating and issued a $3.10 price objective (down from $4.60) on shares of Galiano Gold in a research note on Thursday, January 16th.

Galiano Gold Trading Up 3.7 %

Shares of NYSEAMERICAN GAU opened at $1.13 on Monday. Galiano Gold has a 52 week low of $0.80 and a 52 week high of $2.00. The stock has a market cap of $290.50 million, a PE ratio of -56.50 and a beta of 1.06.

Institutional Trading of Galiano Gold

Institutional investors have recently bought and sold shares of the stock. Donald Smith & CO. Inc. boosted its stake in Galiano Gold by 33.3% in the third quarter. Donald Smith & CO. Inc. now owns 23,881,323 shares of the company’s stock worth $33,911,000 after purchasing an additional 5,961,685 shares in the last quarter. Van ECK Associates Corp boosted its stake in Galiano Gold by 43.3% in the third quarter. Van ECK Associates Corp now owns 6,854,000 shares of the company’s stock worth $9,733,000 after purchasing an additional 2,070,000 shares in the last quarter. Marshall Wace LLP raised its position in shares of Galiano Gold by 208.8% during the second quarter. Marshall Wace LLP now owns 1,498,359 shares of the company’s stock worth $2,577,000 after acquiring an additional 1,013,141 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Galiano Gold during the third quarter worth $639,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Galiano Gold during the third quarter worth $147,000. Institutional investors and hedge funds own 66.82% of the company’s stock.

Galiano Gold Company Profile

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.