H.C. Wainwright asserts a Buy rating on Galiano Gold Inc. (GAU) as Q3 Results Impress

Galiano Gold Inc. (NYSE:GAU) is one of the Canadian penny stocks to buy right now. On November 7, H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on Galiano Gold Inc. (NYSE:GAU) and set a $3.20 price target. The positive stance came a day after the company reported improvements in the volumes of materials mined in the third quarter.

The company mined 1.3 Mt of ore at the Abore deposit, representing a 57% increase from the second quarter, at an average grade of 0.9 g/t gold. It also mined 0.1 Mt of ore at the Esaase deposit at an average grade of 0.7 g/t gold. Mining costs at the two mines averaged $3.38 per ton, 6% lower than Q2 2025. Galiano Gold ended up processing 32,533 ounces of gold, a 7% increase from the second quarter

“Importantly, we emerge from the quarter with a very strong financial position, and our Abore drilling program continues to deliver exciting results, delineating a mineralized system extending 200 meters below our current Mineral Reserve across a substantial 1,600-metre strike length,” said Matt Badylak, Galiano’s President and Chief Executive Officer.

The company exited the quarter in a strong cash position of $116.4 million. It’s also finalizing a $75 million revolving credit facility with FirstRand Bank Limited.

Galiano Gold Inc. (NYSE:GAU) is a gold mining company that operates and manages the Asanko Gold Mine in Ghana, West Africa, which it jointly owns with Gold Fields. Its activities include gold production and exploration for new deposits.

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Disclosure: None. This article is originally published at Insider Monkey.