Galiano Gold (NYSEAMERICAN:GAU) recently had its price target raised by BMO Capital Markets from $1.50 to $2.25, indicating a potential upside of 93.97% from its previous close. Additionally, HC Wainwright reaffirmed a “buy” rating and set a target price of $2.20 on Galiano Gold shares. The company, formerly known as Asanko Gold Inc, operates the Asanko Gold Mine in Ghana, West Africa.
In terms of performance, Galiano Gold has a 1-year low of $0.46 and a high of $1.19. The company reported earnings results that fell below expectations, with an EPS of ($0.03) for the quarter. Analysts predict that Galiano Gold will post earnings per share of 0.27 for the current year.
Hedge funds have been active in their investment in Galiano Gold, with notable increases in holdings by Equinox Partners Investment Management LLC and Donald Smith & CO. Inc. Institutional investors and hedge funds currently own 47.46% of the company’s stock.
Overall, Galiano Gold continues to show promise in its gold exploration and evaluation efforts, with strong support from analysts and investors. It will be interesting to see how the company’s performance evolves in the coming months.
