BMO Capital Markets Downgrades Galiano Gold (TSE:GAU) to Hold

Galiano Gold (TSE:GAU) was downgraded by investment analysts at BMO Capital Markets from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday, Marketbeat.com reports. They currently have a C$1.50 price target on the stock, down from their prior price target of C$2.50. BMO Capital Markets’ price target would suggest a potential downside of 9.09% from the company’s current price.

Separately, Eight Capital set a C$3.50 price target on shares of Galiano Gold and gave the stock a “buy” rating in a research note on Tuesday, November 19th.

Galiano Gold Stock Performance

TSE GAU opened at C$1.65 on Wednesday. The business’s 50-day simple moving average is C$1.82 and its 200-day simple moving average is C$2.02. The firm has a market capitalization of C$423.92 million, a P/E ratio of 23.57, a P/E/G ratio of 0.15 and a beta of 1.05. Galiano Gold has a 1-year low of C$1.09 and a 1-year high of C$2.73. The company has a debt-to-equity ratio of 18.59, a current ratio of 2.31 and a quick ratio of 15.77.

Galiano Gold (TSE:GAU) last posted its earnings results on Thursday, November 7th. The company reported C$0.10 earnings per share for the quarter, beating the consensus estimate of C$0.04 by C$0.06. Galiano Gold had a net margin of 10.14% and a return on equity of 4.46%. During the same quarter last year, the business posted $0.07 EPS.

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.