Galiano Gold Inc. to Post Q3 2024 Earnings of $0.08 Per Share, Cormark Forecasts (NYSEAMERICAN:GAU)

Galiano Gold Inc. (NYSEAMERICAN:GAU) – Stock analysts at Cormark dropped their Q3 2024 earnings per share (EPS) estimates for Galiano Gold in a research report issued to clients and investors on Thursday, April 18th. Cormark analyst R. Gray now forecasts that the company will earn $0.08 per share for the quarter, down from their prior forecast of $0.12. The consensus estimate for Galiano Gold’s current full-year earnings is $0.27 per share. Cormark also issued estimates for Galiano Gold’s Q4 2024 earnings at $0.11 EPS, FY2024 earnings at $0.19 EPS, FY2025 earnings at $0.94 EPS and FY2026 earnings at $0.49 EPS.

Galiano Gold (NYSEAMERICAN:GAU) last posted its quarterly earnings data on Friday, February 16th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.05).

A number of other equities analysts also recently issued reports on GAU. BMO Capital Markets increased their price objective on Galiano Gold from $1.50 to $2.25 and gave the stock an “outperform” rating in a report on Thursday, March 7th. HC Wainwright reiterated a “buy” rating and issued a $2.20 price objective on shares of Galiano Gold in a report on Tuesday, February 20th.

Galiano Gold Stock Performance

GAU opened at $1.48 on Friday. The business has a fifty day moving average price of $0.61. The company has a market capitalization of $375.39 million, a P/E ratio of 13.46 and a beta of 1.12. Galiano Gold has a 12-month low of $0.52 and a 12-month high of $1.60.

Institutional Investors Weigh In On Galiano Gold

A number of institutional investors have recently modified their holdings of GAU. Jane Street Group LLC grew its stake in shares of Galiano Gold by 138.4% in the third quarter. Jane Street Group LLC now owns 58,285 shares of the company’s stock worth $28,000 after acquiring an additional 33,834 shares during the last quarter. ExodusPoint Capital Management LP purchased a new stake in shares of Galiano Gold during the fourth quarter valued at $134,000. Renaissance Technologies LLC boosted its position in shares of Galiano Gold by 9.5% during the fourth quarter. Renaissance Technologies LLC now owns 2,604,991 shares of the company’s stock valued at $1,355,000 after buying an additional 225,338 shares during the last quarter. Millennium Management LLC boosted its position in shares of Galiano Gold by 937.8% during the fourth quarter. Millennium Management LLC now owns 1,128,294 shares of the company’s stock valued at $587,000 after buying an additional 1,019,576 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Galiano Gold by 2.6% during the first quarter. Franklin Resources Inc. now owns 12,857,262 shares of the company’s stock valued at $7,515,000 after buying an additional 322,500 shares during the last quarter. 66.82% of the stock is owned by hedge funds and other institutional investors.

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.