Markets

Galiano Gold (GAU) Flat As Market Sinks: What You Should Know

Galiano Gold (GAU) closed at $1.39 in the latest trading session, marking no change from the prior day. This move was narrower than the S&P 500's daily loss of 1.63%. Meanwhile, the Dow lost 1.44%, and the Nasdaq, a tech-heavy index, lost 1.65%.

Coming into today, shares of the gold mining company had lost 10.9% in the past month. In that same time, the Basic Materials sector lost 1.93%, while the S&P 500 gained 2.86%.

Investors will be hoping for strength from GAU as it approaches its next earnings release, which is expected to be November 6, 2020.

Any recent changes to analyst estimates for GAU should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. GAU is currently sporting a Zacks Rank of #1 (Strong Buy).

Digging into valuation, GAU currently has a Forward P/E ratio of 6.04. This represents a discount compared to its industry's average Forward P/E of 18.63.

The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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