Galiano Gold (GAU - Free Report) closed at $1.45 in the latest trading session, marking a +1.4% move from the prior day. This change outpaced the S&P 500's 0.05% gain on the day. Meanwhile, the Dow gained 0.48%, and the Nasdaq, a tech-heavy index, lost 0.61%.
Coming into today, shares of the gold mining company had lost 17.34% in the past month. In that same time, the Basic Materials sector gained 0.2%, while the S&P 500 lost 0.52%.
Wall Street will be looking for positivity from GAU as it approaches its next earnings report date.
Investors should also note any recent changes to analyst estimates for GAU. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating 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 #2 (Buy).
Digging into valuation, GAU currently has a Forward P/E ratio of 8.25. For comparison, its industry has an average Forward P/E of 24.89, which means GAU is trading at a discount to the group.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 63, putting it in the top 25% 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.
To follow GAU in the coming trading sessions, be sure to utilize Zacks.com.