Galiano Gold upgraded to Outperform from Market Perform at BMO Capital

BMO Capital analyst Raj Ray upgraded Galiano Gold to Outperform from Market Perform with a price target of C$1.50, up from C$1.20. The announcement on the Asanko Gold Mine consolidation by Galiano simplifies the ownership structure and gives Galiano operational and strategic flexibility over the asset’s future, the analyst tells investors in a research note. addition, the transaction appears well structured which minimizes dilution for existing Galiano shareholders while also maintaining balance sheet flexibility, says BMO.