Galiano Gold (TSE:GAU) Shares Up 6.9% – What’s Next?

Galiano Gold Inc. (TSE:GAU) was up 6.9% on Thursday. The company traded as high as C$3.00 and last traded at C$2.96. 228,535 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 545,418 shares. The stock had previously closed at C$2.77.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group set a C$5.50 price target on Galiano Gold and gave the company a “buy” rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$5.50.

Galiano Gold Price Performance

The firm has a market cap of C$776.93 million, a price-to-earnings ratio of 11.00, a PEG ratio of 0.15 and a beta of 2.74. The company’s fifty day moving average is C$2.93 and its 200 day moving average is C$3.02. The company has a quick ratio of 15.77, a current ratio of 1.23 and a debt-to-equity ratio of 23.50.

Galiano Gold (TSE:GAU) last issued its quarterly earnings results on Thursday, August 6th. The company reported C$0.13 EPS for the quarter. The firm had revenue of C$222.45 million for the quarter. Galiano Gold had a net margin of 11.96% and a return on equity of 28.60%.

Insider Activity at Galiano Gold

In other news, insider Michael Cardinaels bought 25,000 shares of the stock in a transaction that occurred on Tuesday, September 29th. The shares were acquired at an average cost of C$2.70 per share, for a total transaction of C$67,500.00. Following the completion of the acquisition, the insider owned 45,000 shares in the company, valued at approximately C$121,500. This represents a 125.00% increase in their ownership of the stock. Also, insider Sean Gregersen sold 37,334 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of C$2.92, for a total transaction of C$109,015.28. 23.08% of the stock is owned by insiders.

About Galiano Gold

Galiano is focused on creating a sustainable business capable of value creation for all stakeholders through production, exploration and disciplined deployment of its financial resources. The Company owns the Asanko Gold Mine, which is located in Ghana, West Africa. Galiano is committed to the highest standards for environmental management, social responsibility, and the health and safety of its employees and neighbouring communities.