Galiano Gold (NYSEAMERICAN:GAU) Downgraded by BMO Capital Markets to Market Perform

BMO Capital Markets downgraded shares of Galiano Gold (NYSEAMERICAN:GAU) from an outperform rating to a market perform rating in a report released on Wednesday, MarketBeat Ratings reports.

Several other research firms have also recently commented on GAU. Eight Capital raised Galiano Gold to a “strong-buy” rating in a report on Tuesday, November 19th. HC Wainwright reaffirmed a “buy” rating and issued a $3.10 target price (down from $4.60) on shares of Galiano Gold in a research note on Thursday, January 16th.

Galiano Gold Stock Up 0.9 %

Galiano Gold stock opened at $1.18 on Wednesday. The firm has a market cap of $303.35 million, a PE ratio of -59.00 and a beta of 1.06. Galiano Gold has a 52-week low of $0.80 and a 52-week high of $2.00.

Galiano Gold (NYSEAMERICAN:GAU) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.04. The business had revenue of $71.13 million for the quarter. Equities research analysts anticipate that Galiano Gold will post 0.08 EPS for the current fiscal year.

Institutional Trading of Galiano Gold

Several institutional investors have recently made changes to their positions in GAU. Donald Smith & CO. Inc. lifted its position in Galiano Gold by 33.3% in the third quarter. Donald Smith & CO. Inc. now owns 23,881,323 shares of the company’s stock valued at $33,911,000 after buying an additional 5,961,685 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Galiano Gold by 43.3% in 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 during the period. Marshall Wace LLP lifted its holdings in shares of Galiano Gold by 208.8% in the 2nd quarter. Marshall Wace LLP now owns 1,498,359 shares of the company’s stock worth $2,577,000 after acquiring an additional 1,013,141 shares during the last quarter. De Lisle Partners LLP boosted its position 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 worth $1,154,000 after purchasing an additional 100,000 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in Galiano Gold in the 3rd quarter valued at approximately $639,000. Hedge funds and other institutional investors 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.