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Galiano Earnings Lag Estimates in Q4, Rise Y/Y on Higher Gold Prices
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Galiano Gold (GAU - Free Report) reported adjusted earnings per share (EPS) of 2 cents for fourth-quarter 2024, missing the Zacks Consensus Estimate of 8 cents. Excluding the impacts of non-recurring items, the company posted a loss of 3 cents in the year-ago quarter. The upside was driven by higher gold prices in the quarter.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Q4 Results of GAU’s AGM Joint Venture
Galiano closed the acquisition of Gold Fields Limited's (GFI - Free Report) 45% interest in the AGM joint venture on March 4, 2024. Since then, the operational and financial results of the AGM have been consolidated into the GAU’s results. The company provided figures for the AGM for both the fourth quarter of 2024 and the prior year quarter to enable a comparison of the financial and operating performance of the mine.
Galiano Gold Inc. Price, Consensus and EPS Surprise
The mine generated revenues of around $65 million in the quarter under review, up 8.5% year over year. The upside resulted from a 34% increase in gold prices, offset by a 19% fall in the sales volume. The company sold 24,673 ounces of gold at an average realized price of $2,609 per ounce in the quarter.
During the October-December quarter, the mine recorded a gold production of 28,508 ounces, which moved down 10.8% year over year. The AGM processing plant achieved a milling throughput of 1.2 million tons of ore processed at a grade of 0.9 grams per ton in the quarter.
The company reported total cash operating costs of $1,426 per ounce, up 14.4% year over year. Total all-in-sustaining costs (AISC) of $2,638 per ounce were 22.1% higher than the prior-year quarter.
The company reported income from mine operations of $21 million in the fourth quarter of 2024, which skyrocketed 142% from the year-ago quarter’s $8.7 million.
Galiano’s Q4 Highlights
Adjusted EBITDA was $21.1 million compared with $0.098 million in the year-ago quarter.
Net income was $0.95 million in the fourth quarter of 2024 against the net loss of $5.75 million in the year-ago quarter.
Galiano’s cash and cash equivalents were $1.05 billion at the end of the fourth quarter of 2024, up from $0.55 billion in 2023. The company generated $0.1 million in cash from operating activities in the fourth quarter of 2024 against an outflow of $1.5 million in the fourth quarter of 2023.
GAU’s 2024 Results
The company posted an EPS of 2 cents in 2024, missing the Zacks Consensus Estimate of 8 cents. The company reported an EPS of 12 cents in 2023.
GAU generated revenues of $231 million in 2024, missing the Zacks Consensus Estimate of $241 million.
Galiano’s Price Performance
The company’s shares have gained 26.1% compared with the industry’s 53.8% growth.
Royal Gold, Inc. (RGLD - Free Report) reported an adjusted EPS of $1.63 in the fourth quarter of 2024, beating the Zacks Consensus Estimate of $1.49. The bottom line surged 72% year over year.
RGLD generated revenues of $203 million, up 32.7% year over year. The upside was driven by higher average metal prices, increased gold sales from Rainy River and Wassa, and higher gold sales from the Peñasquito mine. However, the gains were partially offset by year-over-year lower gold production from Cortez.
B2Gold Corp. (BTG - Free Report) posted an adjusted EPS of 1 cent for fourth-quarter 2024, missing the Zacks Consensus Estimate of 6 cents. The bottom line slumped 86% year over year. The downside was attributed to the decrease in gold ounces sold in the quarter due to lower production at the Fekola mine.
BTG generated revenues of $499.8 million in fourth-quarter 2024, reflecting a year-over-year decrease of 2.4%. The 33.5% increase in average realized gold prices was partially offset by a 26.9% fall in gold ounces sold in the quarter. In the December-end quarter, B2Gold recorded a consolidated gold production of 186,001 ounces, down 31.1% year over year.
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Galiano Earnings Lag Estimates in Q4, Rise Y/Y on Higher Gold Prices
Galiano Gold (GAU - Free Report) reported adjusted earnings per share (EPS) of 2 cents for fourth-quarter 2024, missing the Zacks Consensus Estimate of 8 cents. Excluding the impacts of non-recurring items, the company posted a loss of 3 cents in the year-ago quarter. The upside was driven by higher gold prices in the quarter.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Q4 Results of GAU’s AGM Joint Venture
Galiano closed the acquisition of Gold Fields Limited's (GFI - Free Report) 45% interest in the AGM joint venture on March 4, 2024. Since then, the operational and financial results of the AGM have been consolidated into the GAU’s results. The company provided figures for the AGM for both the fourth quarter of 2024 and the prior year quarter to enable a comparison of the financial and operating performance of the mine.
Galiano Gold Inc. Price, Consensus and EPS Surprise
Galiano Gold Inc. price-consensus-eps-surprise-chart | Galiano Gold Inc. Quote
The mine generated revenues of around $65 million in the quarter under review, up 8.5% year over year. The upside resulted from a 34% increase in gold prices, offset by a 19% fall in the sales volume. The company sold 24,673 ounces of gold at an average realized price of $2,609 per ounce in the quarter.
During the October-December quarter, the mine recorded a gold production of 28,508 ounces, which moved down 10.8% year over year. The AGM processing plant achieved a milling throughput of 1.2 million tons of ore processed at a grade of 0.9 grams per ton in the quarter.
The company reported total cash operating costs of $1,426 per ounce, up 14.4% year over year. Total all-in-sustaining costs (AISC) of $2,638 per ounce were 22.1% higher than the prior-year quarter.
The company reported income from mine operations of $21 million in the fourth quarter of 2024, which skyrocketed 142% from the year-ago quarter’s $8.7 million.
Galiano’s Q4 Highlights
Adjusted EBITDA was $21.1 million compared with $0.098 million in the year-ago quarter.
Net income was $0.95 million in the fourth quarter of 2024 against the net loss of $5.75 million in the year-ago quarter.
Galiano’s cash and cash equivalents were $1.05 billion at the end of the fourth quarter of 2024, up from $0.55 billion in 2023. The company generated $0.1 million in cash from operating activities in the fourth quarter of 2024 against an outflow of $1.5 million in the fourth quarter of 2023.
GAU’s 2024 Results
The company posted an EPS of 2 cents in 2024, missing the Zacks Consensus Estimate of 8 cents. The company reported an EPS of 12 cents in 2023.
GAU generated revenues of $231 million in 2024, missing the Zacks Consensus Estimate of $241 million.
Galiano’s Price Performance
The company’s shares have gained 26.1% compared with the industry’s 53.8% growth.
Image Source: Zacks Investment Research
GAU’s Zacks Rank
The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Galiano’s Peer Performances in Q4
Royal Gold, Inc. (RGLD - Free Report) reported an adjusted EPS of $1.63 in the fourth quarter of 2024, beating the Zacks Consensus Estimate of $1.49. The bottom line surged 72% year over year.
RGLD generated revenues of $203 million, up 32.7% year over year. The upside was driven by higher average metal prices, increased gold sales from Rainy River and Wassa, and higher gold sales from the Peñasquito mine. However, the gains were partially offset by year-over-year lower gold production from Cortez.
B2Gold Corp. (BTG - Free Report) posted an adjusted EPS of 1 cent for fourth-quarter 2024, missing the Zacks Consensus Estimate of 6 cents. The bottom line slumped 86% year over year. The downside was attributed to the decrease in gold ounces sold in the quarter due to lower production at the Fekola mine.
BTG generated revenues of $499.8 million in fourth-quarter 2024, reflecting a year-over-year decrease of 2.4%. The 33.5% increase in average realized gold prices was partially offset by a 26.9% fall in gold ounces sold in the quarter. In the December-end quarter, B2Gold recorded a consolidated gold production of 186,001 ounces, down 31.1% year over year.