Cormark Has Negative Forecast for Galiano Gold Q4 Earnings

Galiano Gold Inc. (NYSEAMERICAN:GAU) – Equities research analysts at Cormark lowered their Q4 2024 EPS estimates for Galiano Gold in a research note issued to investors on Thursday, January 16th. Cormark analyst R. Gray now forecasts that the company will post earnings per share of $0.08 for the quarter, down from their previous forecast of $0.10. The consensus estimate for Galiano Gold’s current full-year earnings is $0.13 per share.

GAU has been the topic of several other reports. HC Wainwright reaffirmed a “buy” rating and set a $3.10 target price (down from $4.60) on shares of Galiano Gold in a report on Thursday. Eight Capital raised shares of Galiano Gold to a “strong-buy” rating in a research note on Tuesday, November 19th.

Galiano Gold Trading Down 2.7 %

Shares of GAU opened at $1.09 on Monday. Galiano Gold has a 12 month low of $0.80 and a 12 month high of $2.00. The company has a market cap of $280.22 million, a PE ratio of -54.50 and a beta of 1.06.

Hedge Funds Weigh In On Galiano Gold

A number of hedge funds have recently modified their holdings of the business. Donald Smith & CO. Inc. lifted its holdings in shares of Galiano Gold by 33.3% during the third quarter. Donald Smith & CO. Inc. now owns 23,881,323 shares of the company’s stock worth $33,911,000 after purchasing an additional 5,961,685 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Galiano Gold by 43.3% during the third quarter. Van ECK Associates Corp now owns 6,854,000 shares of the company’s stock worth $9,733,000 after purchasing an additional 2,070,000 shares during the period. Marshall Wace LLP lifted its holdings in shares of Galiano Gold by 208.8% during the second quarter. Marshall Wace LLP now owns 1,498,359 shares of the company’s stock worth $2,577,000 after purchasing an additional 1,013,141 shares during the period. De Lisle Partners LLP lifted its holdings in Galiano Gold by 14.0% in the third quarter. De Lisle Partners LLP now owns 815,416 shares of the company’s stock valued at $1,154,000 after buying an additional 100,000 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new stake in Galiano Gold during the third quarter valued at $639,000. 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.