Galiano Gold (NYSEAMERICAN:GAU) Price Target Lowered to $2.80 at HC Wainwright

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

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

Galiano Gold Stock Performance

Shares of GAU stock traded up $0.02 during trading on Wednesday, reaching $1.19. The company had a trading volume of 1,049,346 shares, compared to its average volume of 825,006. Galiano Gold has a one year low of $0.80 and a one year high of $2.00. The company has a market capitalization of $304.64 million, a price-to-earnings ratio of -59.25 and a beta of 1.06.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. grew its stake 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 worth $33,911,000 after buying an additional 5,961,685 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Galiano Gold in the third quarter worth about $639,000. XTX Topco Ltd bought a new position in shares of Galiano Gold in the third quarter worth about $64,000. Marshall Wace LLP raised its stake in shares of Galiano Gold by 208.8% in the second 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. Finally, Van ECK Associates Corp raised its stake in shares of Galiano Gold by 43.3% in the third quarter. Van ECK Associates Corp now owns 6,854,000 shares of the company’s stock worth $9,733,000 after acquiring an additional 2,070,000 shares during the last quarter. 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.