Galiano Gold Inc. Expected to Earn FY2024 Earnings of $0.22 Per Share (NYSEAMERICAN:GAU)

Galiano Gold Inc. (NYSEAMERICAN:GAU) – Equities researchers at HC Wainwright decreased their FY2024 EPS estimates for Galiano Gold in a research report issued to clients and investors on Tuesday, May 7th. HC Wainwright analyst H. Ihle now expects that the company will earn $0.22 per share for the year, down from their previous estimate of $0.25. HC Wainwright has a “Buy” rating and a $4.40 price target on the stock. The consensus estimate for Galiano Gold’s current full-year earnings is $0.27 per share. HC Wainwright also issued estimates for Galiano Gold’s FY2025 earnings at $0.58 EPS.

Galiano Gold (NYSEAMERICAN:GAU) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.02). The firm had revenue of $31.70 million for the quarter.

Separately, BMO Capital Markets raised their price target on Galiano Gold from $1.50 to $2.25 and gave the company an “outperform” rating in a report on Thursday, March 7th.

Galiano Gold Price Performance

NYSEAMERICAN GAU opened at $1.75 on Wednesday. The stock’s fifty day moving average price is $0.61. Galiano Gold has a 1 year low of $0.52 and a 1 year high of $1.85. The company has a market capitalization of $443.87 million, a price-to-earnings ratio of 35.00 and a beta of 1.08.

Hedge Funds Weigh In On Galiano Gold

Several institutional investors and hedge funds have recently modified their holdings of GAU. Sapient Capital LLC bought a new stake in Galiano Gold during the first quarter worth about $279,000. Equinox Partners Investment Management LLC increased its stake in Galiano Gold by 1.9% in the first quarter. Equinox Partners Investment Management LLC now owns 36,225,936 shares of the company’s stock valued at $50,300,000 after acquiring an additional 662,500 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in Galiano Gold during the fourth quarter valued at approximately $1,500,000. Finally, Donald Smith & CO. Inc. raised its position in Galiano Gold by 39.3% during the fourth quarter. Donald Smith & CO. Inc. now owns 17,089,969 shares of the company’s stock valued at $16,063,000 after purchasing an additional 4,817,585 shares in the last quarter. 66.82% of the stock is currently owned by institutional investors and hedge funds.

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.