In the latest trading session, Galiano Gold (GAU) closed at $1.51, marking a +0.67% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.3%. At the same time, the Dow lost 0.8%, and the tech-heavy Nasdaq gained 0.64%.
Prior to today's trading, shares of the gold mining company had gained 9.49% over the past month. This has outpaced the Basic Materials sector's gain of 4.47% and the S&P 500's gain of 3.25% in that time.
Wall Street will be looking for positivity from GAU as it approaches its next earnings report date. This is expected to be November 6, 2020.
Investors might also notice recent changes to analyst estimates for GAU. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. GAU is currently a Zacks Rank #3 (Hold).
Looking at its valuation, GAU is holding a Forward P/E ratio of 6.52. This represents a discount compared to its industry's average Forward P/E of 17.15.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 114, putting it in the top 46% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GAU in the coming trading sessions, be sure to utilize Zacks.com.
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Asanko Gold Inc. (GAU): Free Stock Analysis Report
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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.