Galiano Gold (NYSEAMERICAN:GAU) Issues Quarterly Earnings Results

Galiano Gold (NYSEAMERICAN:GAU) announced its earnings results on Thursday. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.03), Zacks reports. The business had revenue of $172.14 million for the quarter, compared to the consensus estimate of $161.75 million. Galiano Gold had a net margin of 12.19% and a return on equity of 35.34%.

Galiano Gold Stock Performance

Shares of GAU traded up $0.38 during trading hours on Friday, hitting $2.50. 5,785,863 shares of the company were exchanged, compared to its average volume of 2,527,191. The company has a market cap of $655.12 million, a PE ratio of 4.46 and a beta of 0.87. The firm’s 50 day moving average is $2.11 and its 200-day moving average is $2.33. Galiano Gold has a 52 week low of $1.66 and a 52 week high of $3.62.

Analyst Upgrades and Downgrades

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

Galiano Gold Company Profile

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.