FY2024 EPS Estimates for Galiano Gold Cut by Scotiabank

Galiano Gold Inc. (NYSEAMERICAN:GAU) – Equities research analysts at Scotiabank decreased their FY2024 earnings estimates for Galiano Gold in a research report issued on Wednesday, January 8th. Scotiabank analyst O. Habib now anticipates that the company will post earnings of $0.05 per share for the year, down from their prior forecast of $0.06. The consensus estimate for Galiano Gold’s current full-year earnings is $0.13 per share.

Other research analysts have also issued reports about the stock. HC Wainwright raised their target price on shares of Galiano Gold from $4.20 to $4.60 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Eight Capital upgraded Galiano Gold to a “strong-buy” rating in a research note on Tuesday, November 19th.

Galiano Gold Stock Down 0.8 %

GAU stock opened at $1.27 on Friday. Galiano Gold has a 52 week low of $0.80 and a 52 week high of $2.00. The company has a market cap of $326.49 million, a P/E ratio of -63.50 and a beta of 1.04.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GAU. Donald Smith & CO. Inc. boosted its stake in shares of Galiano Gold by 33.3% during the 3rd quarter. Donald Smith & CO. Inc. now owns 23,881,323 shares of the company’s stock worth $33,911,000 after acquiring an additional 5,961,685 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in Galiano Gold during the 3rd quarter valued at $639,000. XTX Topco Ltd acquired a new position in shares of Galiano Gold in the third quarter valued at $64,000. Acadian Asset Management LLC raised its position in shares of Galiano Gold by 186.2% in the second quarter. Acadian Asset Management LLC now owns 944,190 shares of the company’s stock valued at $1,613,000 after purchasing an additional 614,316 shares during the period. Finally, Marshall Wace LLP lifted its stake in shares of Galiano Gold by 208.8% during the 2nd quarter. Marshall Wace LLP now owns 1,498,359 shares of the company’s stock worth $2,577,000 after buying an additional 1,013,141 shares during the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

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.