Galiano Gold (NYSEAMERICAN:GAU) Issues Earnings Results, Misses Expectations By $0.03 EPS

Galiano Gold (NYSEAMERICAN:GAU) posted its earnings results on Thursday. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03), Zacks reports. Galiano Gold had a net margin of 12.19% and a return on equity of 35.34%. The company had revenue of $172.14 million for the quarter, compared to analysts’ expectations of $161.75 million.

Galiano Gold Stock Performance

GAU traded up $0.38 during trading on Friday, reaching $2.50. The stock had a trading volume of 5,785,863 shares, compared to its average volume of 2,527,191. The business has a 50-day moving average of $2.11 and a 200-day moving average of $2.33. Galiano Gold has a one year low of $1.66 and a one year high of $3.62. The stock has a market cap of $655.12 million, a PE ratio of 5.76 and a beta of 0.87.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GAU shares. Canaccord Genuity Group upgraded Galiano Gold to a “strong-buy” rating in a research report on Thursday, August 13th. Zacks Research raised Galiano Gold from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 26th. Finally, Freedom Broker dropped their price target on Galiano Gold from $3.60 to $3.45 and set a “buy” rating for the company in a research report on Thursday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Galiano Gold presently has an average rating of “Buy” and a consensus price target of $3.85.

Galiano Gold Company Profile

Galiano Gold Inc is a Canadian gold producer and exploration company focused on the acquisition, development and operation of gold assets in West Africa. The company’s primary asset is the Asanko Gold Mine in Ghana, which produces gold through open-pit mining and conventional processing operations.

Galiano Gold operates the Asanko Gold Mine through a partnership with the government of Ghana, which holds a minority interest. The mine is located in Ghana’s Ashanti Region, an established gold-producing area, and includes multiple open-pit deposits, processing facilities and additional exploration opportunities intended to support future mineral resource growth.

The company was formerly known as Asanko Gold Inc and adopted the Galiano Gold name in 2020.