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 research note released on Wednesday, Marketbeat.com reports.

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

Galiano Gold Price Performance

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

Galiano Gold (NYSEAMERICAN:GAU) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.07 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. As a group, equities analysts predict that Galiano Gold will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. purchased a new position in shares of Galiano Gold during the 3rd quarter valued at approximately $147,000. XTX Topco Ltd acquired a new position in Galiano Gold during the third quarter worth $64,000. HighTower Advisors LLC purchased a new position in Galiano Gold during the third quarter valued at $36,000. De Lisle Partners LLP grew its position in shares of Galiano Gold by 14.0% in the third quarter. De Lisle Partners LLP now owns 815,416 shares of the company’s stock valued at $1,154,000 after purchasing an additional 100,000 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Galiano Gold during the third quarter worth about $639,000. Institutional investors and hedge funds 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.