Galiano Gold (NYSEAMERICAN:GAU) Releases Earnings Results

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

Galiano Gold Stock Up 17.9%

NYSEAMERICAN GAU traded up $0.38 during trading hours on Friday, reaching $2.50. The company’s stock had a trading volume of 5,785,863 shares, compared to its average volume of 2,527,191. The company has a market capitalization of $655.12 million, a price-to-earnings ratio of 5.76 and a beta of 0.87. Galiano Gold has a 1 year low of $1.66 and a 1 year high of $3.62. The firm’s 50-day moving average price is $2.11 and its 200-day moving average price is $2.33.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GAU shares. Zacks Research raised 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 Galiano Gold to a “strong-buy” rating in a research note on Thursday, August 13th. Finally, Freedom Broker reduced their price objective 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 investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $3.85.

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.