Scotiabank Issues Negative Outlook for Galiano Gold Earnings

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

GAU has been the topic of several other research reports. Eight Capital upgraded shares of Galiano Gold to a “strong-buy” rating in a report on Tuesday, November 19th. HC Wainwright raised their target price on shares of Galiano Gold from $4.20 to $4.60 and gave the stock a “buy” rating in a research report on Tuesday, November 12th.

Galiano Gold Price Performance

GAU opened at $1.25 on Friday. The company has a market cap of $321.35 million, a price-to-earnings ratio of -62.50 and a beta of 1.04. Galiano Gold has a one year low of $0.80 and a one year high of $2.00.

Institutional Investors Weigh In On Galiano Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GAU. National Bank of Canada FI purchased a new position in Galiano Gold during the second quarter valued at $59,000. Acadian Asset Management LLC grew its position in shares of Galiano Gold by 186.2% in the 2nd quarter. Acadian Asset Management LLC now owns 944,190 shares of the company’s stock worth $1,613,000 after buying an additional 614,316 shares during the period. Donald Smith & CO. Inc. increased its stake in shares of Galiano Gold by 5.6% in the 2nd quarter. Donald Smith & CO. Inc. now owns 17,919,638 shares of the company’s stock worth $30,822,000 after acquiring an additional 947,328 shares in the last quarter. Marshall Wace LLP lifted its position in Galiano Gold by 208.8% during the 2nd quarter. Marshall Wace LLP now owns 1,498,359 shares of the company’s stock valued at $2,577,000 after acquiring an additional 1,013,141 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its stake in Galiano Gold by 141.7% during the second quarter. Cubist Systematic Strategies LLC now owns 54,163 shares of the company’s stock worth $93,000 after acquiring an additional 31,757 shares in the last quarter. 66.82% of the stock is 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.