BMO Capital Markets on Wednesday reiterated its outperform rating on the shares of Galiano Gold (GAU.TO, GAU) while lowering its price target to C$2.50 from C$3.50 after fourth-quarter production results from the company.
" Impact: Negative. Galiano announced full year 2024 production results from its Asanko Gold Mine (AGM) operation in Ghana. Q4/24 production was a miss vs. our estimate. Full year production also missed the company's revised guidance. Although operational metrics seemed to have shown some improvement in H2/24, going into 2025 we see potential for operational volatility. Galiano plans to publish the optimized LOM update on January 28th, at which time we expect to have additional visibility. We maitain our Outperform rating, but have lowered our target price to C$2.50/sh (was C$3.50/sh)," analyst Raj Ray wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 1.66, Change: -0.11, Percent Change: -6.21
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