Scotiabank Cuts Galiano Gold (NYSEMKT:GAU) Price Target to C$1.75

Galiano Gold (NYSEMKT:GAU) had its price objective reduced by Scotiabank from C$2.00 to C$1.75 in a research note published on Tuesday morning, The Fly reports.

Several other research analysts have also commented on GAU. Zacks Investment Research raised Galiano Gold from a sell rating to a hold rating in a research report on Monday, December 20th. BMO Capital Markets reaffirmed a hold rating on shares of Galiano Gold in a research report on Friday, October 1st. Finally, Berenberg Bank reaffirmed a buy rating and set a C$1.50 price target on shares of Galiano Gold in a research report on Friday, October 15th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $1.83.

Shares of NYSEMKT GAU opened at $0.66 on Tuesday. The firm has a market cap of $148.69 million, a price-to-earnings ratio of 3.67 and a beta of 0.81. The stock’s fifty day simple moving average is $0.74 and its 200-day simple moving average is $0.82.

Galiano Gold (NYSEMKT:GAU) last issued its earnings results on Wednesday, November 10th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. Research analysts anticipate that Galiano Gold will post 0.13 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in GAU. Donald Smith & CO. Inc. increased its holdings in shares of Galiano Gold by 10.9% in the third quarter. Donald Smith & CO. Inc. now owns 8,406,744 shares of the company’s stock valued at $6,053,000 after purchasing an additional 826,807 shares during the period. Equinox Partners Investment Management LLC purchased a new stake in shares of Galiano Gold in the third quarter valued at approximately $355,000. Morgan Stanley boosted its stake in shares of Galiano Gold by 657.0% in the first quarter. Morgan Stanley now owns 554,219 shares of the company’s stock valued at $620,000 after buying an additional 481,007 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Galiano Gold by 4.6% in the second quarter. Van ECK Associates Corp now owns 10,401,135 shares of the company’s stock valued at $11,337,000 after buying an additional 457,273 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Galiano Gold in the third quarter valued at approximately $196,000. 39.01% of the stock is currently owned by institutional investors and hedge funds.

Galiano Gold Company Profile

Galiano Gold Inc engages in the exploration, development, and production of gold properties. The company's primary asset is the Asanko Gold Mine located in Ghana, West Africa. It also holds interests in the ABG Mali property with four gold exploration licenses covering approximately 167 km located on the Senegal Mali shear zone.

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