Galiano Gold Inc. (NYSEAMERICAN:GAU) to Post Q2 2024 Earnings of $0.03 Per Share, Cormark Forecasts

Galiano Gold Inc. (NYSEAMERICAN:GAU) – Cormark reduced their Q2 2024 earnings estimates for shares of Galiano Gold in a research report issued to clients and investors on Monday, May 6th. Cormark analyst R. Gray now forecasts that the company will earn $0.03 per share for the quarter, down from their prior estimate of $0.05. The consensus estimate for Galiano Gold’s current full-year earnings is $0.27 per share. Cormark also issued estimates for Galiano Gold’s Q3 2024 earnings at $0.09 EPS and Q4 2024 earnings at $0.13 EPS.

Several other analysts also recently commented on GAU. HC Wainwright raised their price objective on shares of Galiano Gold from $4.30 to $4.40 and gave the stock a “buy” rating in a research report on Tuesday. BMO Capital Markets lifted their price target on shares of Galiano Gold from $1.50 to $2.25 and gave the company an “outperform” rating in a research note on Thursday, March 7th.

Galiano Gold Trading Down 2.3 %

Shares of Galiano Gold stock opened at $1.71 on Thursday. The company’s 50-day simple moving average is $0.61. Galiano Gold has a one year low of $0.52 and a one year high of $1.85. The company has a market cap of $433.72 million, a price-to-earnings ratio of 34.20 and a beta of 1.08.

Galiano Gold (NYSEAMERICAN:GAU) last released its earnings results on Thursday, May 2nd. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.02). The firm had revenue of $31.70 million during the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Sapient Capital LLC purchased a new position in Galiano Gold during the 1st quarter worth $279,000. Equinox Partners Investment Management LLC boosted its position in Galiano Gold by 1.9% in the first quarter. Equinox Partners Investment Management LLC now owns 36,225,936 shares of the company’s stock worth $50,300,000 after purchasing an additional 662,500 shares during the last quarter. Donald Smith & CO. Inc. grew its stake in Galiano Gold by 39.3% in the 4th quarter. Donald Smith & CO. Inc. now owns 17,089,969 shares of the company’s stock valued at $16,063,000 after purchasing an additional 4,817,585 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Galiano Gold during the 4th quarter valued at $1,500,000. 66.82% of the stock is currently owned by institutional investors and hedge funds.

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.