Cormark Has Positive Outlook of Galiano Gold FY2024 Earnings

Galiano Gold Inc. (NYSEAMERICAN:GAU) – Research analysts at Cormark boosted their FY2024 earnings estimates for Galiano Gold in a research report issued on Monday, November 11th. Cormark analyst R. Gray now expects that the company will post earnings per share of $0.23 for the year, up from their previous estimate of $0.11. The consensus estimate for Galiano Gold’s current full-year earnings is $0.13 per share. Cormark also issued estimates for Galiano Gold’s Q4 2024 earnings at $0.10 EPS and FY2025 earnings at $0.68 EPS.

Separately, HC Wainwright boosted their price objective on shares of Galiano Gold from $4.20 to $4.60 and gave the stock a “buy” rating in a report on Tuesday.

Galiano Gold Stock Up 0.3 %

NYSEAMERICAN:GAU opened at $1.46 on Thursday. Galiano Gold has a one year low of $0.55 and a one year high of $2.00. The firm has a market cap of $373.85 million, a P/E ratio of -72.00 and a beta of 1.10.

Institutional Investors Weigh In On Galiano Gold

A number of institutional investors have recently bought and sold shares of GAU. Donald Smith & CO. Inc. boosted its holdings in Galiano Gold by 33.3% during the third quarter. Donald Smith & CO. Inc. now owns 23,881,323 shares of the company’s stock valued at $33,911,000 after purchasing an additional 5,961,685 shares in the last quarter. Van ECK Associates Corp bought a new position in shares of Galiano Gold during the 2nd quarter worth approximately $8,219,000. Marshall Wace LLP boosted its stake in Galiano Gold by 208.8% in the 2nd quarter. Marshall Wace LLP now owns 1,498,359 shares of the company’s stock valued at $2,577,000 after buying an additional 1,013,141 shares in the last quarter. Acadian Asset Management LLC grew its position in 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 acquiring an additional 614,316 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new position in Galiano Gold during the third quarter worth $639,000. Institutional investors and hedge funds own 66.82% of the company’s stock.

Galiano Gold Company Profile

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.