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

Galiano Gold (NYSEAMERICAN:GAU) had its target price reduced by HC Wainwright from $3.10 to $2.80 in a report published on Wednesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other research analysts also recently weighed in on GAU. BMO Capital Markets downgraded shares of Galiano Gold from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Eight Capital upgraded Galiano Gold to a “strong-buy” rating in a research note on Tuesday, November 19th.

Galiano Gold Trading Down 1.8 %

Shares of GAU stock opened at $1.12 on Wednesday. The company has a market capitalization of $287.93 million, a P/E ratio of -56.00 and a beta of 1.06. Galiano Gold has a one year low of $0.80 and a one year high of $2.00.

Galiano Gold (NYSEAMERICAN:GAU) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. The company had revenue of $71.13 million for the quarter. As a group, sell-side analysts anticipate that Galiano Gold will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Galiano Gold

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