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Galiano Gold (NYSEMKT:GAU) Downgraded by Zacks Investment Research

Galiano Gold (NYSEMKT:GAU) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday,…

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This article was originally published by ETF Daily News

Galiano Gold (NYSEMKT:GAU) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “Galiano Gold Inc. provides mining services. It principally explores and develops gold fields. The company currently operates and manages the Asanko Gold Mine, located in Ghana , West Africa which is jointly owned with Gold Fields Ltd. Galiano Gold Inc., formerly known as Asanko Gold Inc., is based in VANCOUVER. “

A number of other equities analysts also recently commented on the stock. Scotiabank lowered their target price on shares of Galiano Gold from C$2.00 to C$1.75 in a research note on Tuesday, January 11th. Berenberg Bank reiterated a “buy” rating and set a C$1.50 target price on shares of Galiano Gold in a research note on Friday, October 15th. Finally, BMO Capital Markets reiterated a “hold” rating on shares of Galiano Gold in a research note on Friday, October 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $1.83.

NYSEMKT:GAU opened at $0.68 on Thursday. The stock has a 50 day simple moving average of $0.72 and a two-hundred day simple moving average of $0.81. The firm has a market capitalization of $151.83 million, a P/E ratio of 3.75 and a beta of 0.81.

Galiano Gold (NYSEMKT:GAU) last posted its quarterly earnings results on Wednesday, November 10th. The company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. As a group, analysts forecast that Galiano Gold will post 0.13 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in GAU. American Century Companies Inc. purchased a new stake in shares of Galiano Gold in the second quarter valued at about $42,000. Susquehanna International Group LLP raised its holdings in shares of Galiano Gold by 38.3% in the second quarter. Susquehanna International Group LLP now owns 52,431 shares of the company’s stock valued at $57,000 after buying an additional 14,522 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Galiano Gold by 57.9% in the second quarter. Bank of Montreal Can now owns 53,308 shares of the company’s stock valued at $56,000 after buying an additional 19,549 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Galiano Gold in the third quarter valued at about $42,000. Finally, Royal Bank of Canada raised its holdings in shares of Galiano Gold by 159.6% in the third quarter. Royal Bank of Canada now owns 63,138 shares of the company’s stock valued at $45,000 after buying an additional 38,813 shares during the last quarter. 39.01% of the stock is owned by hedge funds and other institutional investors.

Galiano Gold Company Profile

Galiano Gold Inc engages in the exploration, development, and production of gold properties. The company’s primary asset is the Asanko Gold Mine located in Ghana, West Africa. It also holds interests in the ABG Mali property with four gold exploration licenses covering approximately 167 km located on the Senegal Mali shear zone.

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The post Galiano Gold (NYSEMKT:GAU) Downgraded by Zacks Investment Research appeared first on ETF Daily News.

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