Galiano Gold (NYSEAMERICAN:GAU) Stock Jumps 14.9% – Should You Buy?

Galiano Gold Inc. (NYSEAMERICAN:GAU)’s share price rose 14.9% during mid-day trading on Friday. The stock traded as high as $2.43 and last traded at $2.4350. 3,992,422 shares changed hands during mid-day trading, an increase of 26% from the average daily volume of 3,159,854 shares. The stock had previously closed at $2.12.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GAU shares. Zacks Research upgraded shares of Galiano Gold from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 26th. Canaccord Genuity Group upgraded shares of Galiano Gold to a “strong-buy” rating in a research report on Thursday, August 13th. Finally, Freedom Broker dropped their price target on shares of Galiano Gold from $3.60 to $3.45 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $3.85.

Galiano Gold Stock Up 17.9%

The company has a market cap of $655.12 million, a price-to-earnings ratio of 4.46 and a beta of 0.87. The firm has a 50 day moving average price of $2.11 and a two-hundred day moving average price of $2.33.

Galiano Gold (NYSEAMERICAN:GAU) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). The company had revenue of $172.14 million for the quarter, compared to the consensus estimate of $161.75 million. Galiano Gold had a return on equity of 42.65% and a net margin of 23.19%. On average, equities analysts expect that Galiano Gold Inc. will post 0.64 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GAU. Russell Investments Group Ltd. lifted its holdings in Galiano Gold by 394.3% in the third quarter. Russell Investments Group Ltd. now owns 591,510 shares of the company’s stock valued at $1,148,000 after buying an additional 471,834 shares during the period. U S Global Investors Inc. bought a new stake in Galiano Gold during the third quarter valued at $136,000. Net Worth Advisory Group grew its holdings in Galiano Gold by 11.3% during the 3rd quarter. Net Worth Advisory Group now owns 106,845 shares of the company’s stock worth $208,000 after acquiring an additional 10,861 shares during the period. Venture Visionary Partners LLC acquired a new stake in Galiano Gold during the 3rd quarter worth about $46,000. Finally, Engineers Gate Manager LP grew its holdings in Galiano Gold by 63.3% during the 2nd quarter. Engineers Gate Manager LP now owns 260,028 shares of the company’s stock worth $486,000 after acquiring an additional 100,778 shares during the period. Institutional investors own 66.82% of the company’s stock.

About Galiano Gold

Galiano Gold Inc is a Canadian gold producer and exploration company focused on the acquisition, development and operation of gold assets in West Africa. The company’s primary asset is the Asanko Gold Mine in Ghana, which produces gold through open-pit mining and conventional processing operations.

Galiano Gold operates the Asanko Gold Mine through a partnership with the government of Ghana, which holds a minority interest. The mine is located in Ghana’s Ashanti Region, an established gold-producing area, and includes multiple open-pit deposits, processing facilities and additional exploration opportunities intended to support future mineral resource growth.

The company was formerly known as Asanko Gold Inc and adopted the Galiano Gold name in 2020.