HC Wainwright Raises Galiano Gold (NYSEAMERICAN:GAU) Price Target to $4.40

Galiano Gold (NYSEAMERICAN:GAU) had its price objective increased by stock analysts at HC Wainwright from $4.30 to $4.40 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price points to a potential upside of 151.43% from the company’s previous close. HC Wainwright also issued estimates for Galiano Gold’s FY2024 earnings at $0.22 EPS and FY2025 earnings at $0.58 EPS.

Separately, BMO Capital Markets raised their price objective 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 Stock Performance

Shares of GAU opened at $1.75 on Tuesday. The stock has a fifty day moving average price of $0.61. Galiano Gold has a 12-month low of $0.52 and a 12-month high of $1.85. The company has a market cap of $443.87 million, a PE ratio of 35.00 and a beta of 1.08.

Galiano Gold (NYSEAMERICAN:GAU) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). The company had revenue of $31.70 million during the quarter. Analysts anticipate that Galiano Gold will post 0.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Galiano Gold

Several hedge funds and other institutional investors have recently modified their holdings of GAU. Equinox Partners Investment Management LLC increased its stake in Galiano Gold by 60.5% in the fourth quarter. Equinox Partners Investment Management LLC now owns 35,563,436 shares of the company’s stock valued at $32,762,000 after acquiring an additional 13,402,496 shares during the last quarter. Donald Smith & CO. Inc. boosted its holdings in shares of 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. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Galiano Gold during the 4th quarter valued at about $1,500,000. Finally, Sapient Capital LLC purchased a new position in shares of Galiano Gold during the 1st quarter valued at about $279,000. 66.82% of the stock is currently owned by institutional investors.

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.