HC Wainwright Increases Galiano Gold (NYSEAMERICAN:GAU) Price Target to $4.40

Galiano Gold (NYSEAMERICAN:GAU) had its target price raised by investment analysts at HC Wainwright from $4.30 to $4.40 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 151.43% from the company’s current price. HC Wainwright also issued estimates for Galiano Gold’s FY2024 earnings at $0.22 EPS and FY2025 earnings at $0.58 EPS.

Separately, BMO Capital Markets upped their price objective 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 Stock Performance

Shares of Galiano Gold stock opened at $1.75 on Tuesday. The company has a market capitalization of $443.87 million, a PE ratio of 35.00 and a beta of 1.08. Galiano Gold has a twelve month low of $0.52 and a twelve month high of $1.85. The business has a fifty day simple moving average of $0.61.

Galiano Gold (NYSEAMERICAN:GAU) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). The company had revenue of $31.70 million during the quarter. As a group, equities research analysts anticipate that Galiano Gold will post 0.27 EPS for the current year.

Hedge Funds Weigh In On Galiano Gold

Hedge funds have recently made changes to their positions in the stock. Sapient Capital LLC purchased a new stake in shares of Galiano Gold in the 1st quarter valued at about $279,000. Equinox Partners Investment Management LLC boosted its holdings in shares of Galiano Gold by 1.9% in the 1st 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 in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Galiano Gold during the 4th quarter valued at about $1,500,000. Finally, Donald Smith & CO. Inc. lifted its position 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 worth $16,063,000 after buying an additional 4,817,585 shares during the last quarter. 66.82% of the stock is currently owned by hedge funds and other institutional investors.

About Galiano Gold

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.