Galiano Gold (GAU) closed at $1.35 in the latest trading session, marking a -1.46% move from the prior day. This change lagged the S&P 500's 0.63% loss on the day. Elsewhere, the Dow lost 0.55%, while the tech-heavy Nasdaq lost 0.1%.
Coming into today, shares of the gold mining company had lost 10.46% in the past month. In that same time, the Basic Materials sector gained 0.91%, while the S&P 500 gained 5.91%.
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 revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. GAU currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that GAU has a Forward P/E ratio of 5.96 right now. For comparison, its industry has an average Forward P/E of 19.07, 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 102, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Asanko Gold Inc. (GAU) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research