Galiano Gold upgraded to Buy from Hold at Freedom Broker

Freedom Broker analyst Vitaly Kononov upgraded Galiano Gold (GAU) to Buy from Hold with a price target of $3.50, down from $3.90. The company reported “solid” Q1 results, with stronger-than-expected production, EBITDA, and operating cash flow partly offset by the upward revision to FY26 cost guidance following changes to Ghana’s royalty framework, the analyst tells investors in a research note. The firm added that while the transition toward a sliding-scale royalty regime materially increases near-term fiscal pressure and lowers the firm’s valuation, it believes the recent share price correction increasingly underestimates the company’s improving operational trajectory into 2027.