HC Wainwright Has Lowered Expectations for Galiano Gold (NYSEAMERICAN:GAU) Stock Price

Galiano Gold (NYSEAMERICAN:GAU) had its price objective dropped by stock analysts at HC Wainwright from $3.10 to $2.80 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 136.29% from the stock’s current price.

GAU has been the subject of several other research reports. Eight Capital upgraded Galiano Gold to a “strong-buy” rating in a research note on Tuesday, November 19th. BMO Capital Markets cut Galiano Gold from an “outperform” rating to a “market perform” rating in a research note on Wednesday.

Galiano Gold Price Performance

NYSEAMERICAN GAU traded up $0.02 during trading on Wednesday, hitting $1.19. The stock had a trading volume of 1,049,346 shares, compared to its average volume of 825,006. Galiano Gold has a twelve month low of $0.80 and a twelve month high of $2.00. The company has a market cap of $304.64 million, a P/E ratio of -59.25 and a beta of 1.06.

Galiano Gold (NYSEAMERICAN:GAU) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04. The company had revenue of $71.13 million during the quarter. On average, analysts anticipate that Galiano Gold will post 0.08 EPS for the current fiscal year.

Institutional Trading of Galiano Gold

Institutional investors have recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. lifted its stake in shares of Galiano Gold by 33.3% in 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. Van ECK Associates Corp grew its stake in Galiano Gold by 43.3% during the 3rd quarter. Van ECK Associates Corp now owns 6,854,000 shares of the company’s stock valued at $9,733,000 after acquiring an additional 2,070,000 shares in the last quarter. Marshall Wace LLP grew its holdings 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 valued at $2,577,000 after acquiring an additional 1,013,141 shares in the last quarter. De Lisle Partners LLP grew its holdings in shares of Galiano Gold by 14.0% during the 3rd quarter. De Lisle Partners LLP now owns 815,416 shares of the company’s stock valued at $1,154,000 after acquiring an additional 100,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Galiano Gold in the third quarter worth $639,000. Institutional investors 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.