In the latest trading session, Galiano Gold (GAU) closed at $1.52, marking a +1.33% move from the previous day. This move outpaced the S&P 500's daily gain of 0.29%. At the same time, the Dow lost 0.24%, and the tech-heavy Nasdaq gained 0.28%.
Coming into today, shares of the gold mining company had gained 36.36% in the past month. In that same time, the Basic Materials sector gained 8.19%, while the S&P 500 gained 2.96%.
GAU will be looking to display strength as it nears its next earnings release. In that report, analysts expect GAU to post earnings of $0.01 per share. This would mark a year-over-year decline of 66.67%.
It is also important to note the recent changes to analyst estimates for GAU. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 5.41% higher within the past month. GAU is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, GAU is currently trading at a Forward P/E ratio of 11.54. This represents a discount compared to its industry's average Forward P/E of 28.08.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 52, putting it in the top 21% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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.