Galiano Gold (GAU)
Market Price (6/19/2026): $2.2 | Market Cap: $572.6 MilSector: Materials | Industry: Gold
Galiano Gold (GAU)
Market Price (6/19/2026): $2.2Market Cap: $572.6 MilSector: MaterialsIndustry: Gold
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.3%, FCF Yield is 8.8% Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -15% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 95% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 33% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -27% Megatrend and thematic driversMegatrends include Global Economic Instability & Store of Value, and Resource Extraction & Management. Themes include Inflation Hedging Assets, Precious Metals Mining, Show more. | Key risksGAU key risks include [1] heavy dependency on its single Asanko Gold Mine, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.3%, FCF Yield is 8.8% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -15% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 95% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 33% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -27% |
| Megatrend and thematic driversMegatrends include Global Economic Instability & Store of Value, and Resource Extraction & Management. Themes include Inflation Hedging Assets, Precious Metals Mining, Show more. |
| Key risksGAU key risks include [1] heavy dependency on its single Asanko Gold Mine, Show more. |
Qualitative Assessment
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Galiano Gold (GAU) stock has lost about 40% since 2/28/2026 because of the following key factors:
1. Increased All-in Sustaining Costs (AISC) Guidance. Galiano Gold revised its fiscal year 2026 All-in Sustaining Costs (AISC) guidance upwards to between $2,300/oz and $2,600/oz from the previous range of $2,000/oz to $2,300/oz. This increase, announced with the fiscal Q1 2026 results, was primarily attributed to an amendment to Ghana's royalty framework, representing a potential rise of up to $375/oz in costs compared to initial forecasts.
2. Significant Decline in Gold Prices. The spot price of gold experienced a substantial decline during the specified period. From approximately $5,279.11 per ounce on March 1, 2026, the price fell to about $4,309.27 per ounce by June 15, 2026, representing a decrease of approximately 18.4%.
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Galiano Gold (GAU) stock has lost about 40% since 2/28/2026 because of the following key factors:
1. Increased All-in Sustaining Costs (AISC) Guidance. Galiano Gold revised its fiscal year 2026 All-in Sustaining Costs (AISC) guidance upwards to between $2,300/oz and $2,600/oz from the previous range of $2,000/oz to $2,300/oz. This increase, announced with the fiscal Q1 2026 results, was primarily attributed to an amendment to Ghana's royalty framework, representing a potential rise of up to $375/oz in costs compared to initial forecasts.
2. Significant Decline in Gold Prices. The spot price of gold experienced a substantial decline during the specified period. From approximately $5,279.11 per ounce on March 1, 2026, the price fell to about $4,309.27 per ounce by June 15, 2026, representing a decrease of approximately 18.4%.
3. Missed Fiscal Q1 2026 Earnings Per Share (EPS). Despite reporting strong operational performance for fiscal Q1 2026, including a 68% increase in gold production compared to fiscal Q1 2025, Galiano Gold's reported basic earnings per share of $0.11 missed analysts' consensus expectations of $0.12.
4. Elevated Capital and Exploration Expenditures. Galiano Gold outlined significant planned capital expenditures for fiscal year 2026, with development capital guided between $120 million and $140 million, primarily for Nkran Cut 3 waste stripping and village resettlement costs. The company also committed to an expanded Abore drilling program, which is estimated to incur an additional $7.5 million in fiscal 2026 beyond prior guidance.
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Stock Movement Drivers
Fundamental Drivers
The -37.5% change in GAU stock from 2/28/2026 to 6/18/2026 was primarily driven by a -58.8% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.52 | 2.20 | -37.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 353 | 538 | 52.5% |
| P/S Multiple | 2.6 | 1.1 | -58.8% |
| Shares Outstanding (Mil) | 259 | 260 | -0.6% |
| Cumulative Contribution | -37.5% |
Market Drivers
2/28/2026 to 6/18/2026| Return | Correlation | |
|---|---|---|
| GAU | -37.5% | |
| Market (SPY) | 9.2% | 69.2% |
| Sector (XLB) | -2.6% | 64.1% |
Fundamental Drivers
The -9.5% change in GAU stock from 11/30/2025 to 6/18/2026 was primarily driven by a -40.3% change in the company's P/S Multiple.| (LTM values as of) | 11302025 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.43 | 2.20 | -9.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 353 | 538 | 52.5% |
| P/S Multiple | 1.8 | 1.1 | -40.3% |
| Shares Outstanding (Mil) | 259 | 260 | -0.6% |
| Cumulative Contribution | -9.5% |
Market Drivers
11/30/2025 to 6/18/2026| Return | Correlation | |
|---|---|---|
| GAU | -9.5% | |
| Market (SPY) | 9.9% | 47.2% |
| Sector (XLB) | 17.0% | 57.3% |
Fundamental Drivers
The 64.2% change in GAU stock from 5/31/2025 to 6/18/2026 was primarily driven by a 94.7% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 5312025 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.34 | 2.20 | 64.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 276 | 538 | 94.7% |
| P/S Multiple | 1.2 | 1.1 | -14.6% |
| Shares Outstanding (Mil) | 257 | 260 | -1.2% |
| Cumulative Contribution | 64.2% |
Market Drivers
5/31/2025 to 6/18/2026| Return | Correlation | |
|---|---|---|
| GAU | 64.2% | |
| Market (SPY) | 28.1% | 33.0% |
| Sector (XLB) | 22.4% | 38.5% |
Fundamental Drivers
The 291.0% change in GAU stock from 5/31/2023 to 6/18/2026 was primarily driven by a 9.2233720368547763E17% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 5312023 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.56 | 2.20 | 291.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 538 | 9.2233720368547763E17% |
| Net Income Margin (%) | ∞% | 5.6% | |
| P/E Multiple | 2.5 | 19.0 | 661.5% |
| Shares Outstanding (Mil) | 225 | 260 | -13.6% |
| Cumulative Contribution | 0.0% |
Market Drivers
5/31/2023 to 6/18/2026| Return | Correlation | |
|---|---|---|
| GAU | 291.0% | |
| Market (SPY) | 85.7% | 21.6% |
| Sector (XLB) | 46.5% | 29.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| GAU Return | -38% | -26% | 81% | 31% | 106% | -13% | 95% |
| Peers Return | 19% | -6% | 9% | 22% | 163% | 8% | 327% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 98% |
Monthly Win Rates [3] | |||||||
| GAU Win Rate | 33% | 42% | 67% | 50% | 83% | 33% | |
| Peers Win Rate | 47% | 38% | 53% | 57% | 78% | 47% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| GAU Max Drawdown | -57% | -53% | -28% | -39% | -34% | -46% | |
| Peers Max Drawdown | -34% | -38% | -30% | -30% | -21% | -37% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: NEM, AEM, GOLD, KGC, AU.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/18/2026 (YTD)
How Low Can It Go
| Event | GAU | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -19.5% | -18.8% |
| % Gain to Breakeven | 24.3% | 23.1% |
| Time to Breakeven | 3 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -25.7% | -7.8% |
| % Gain to Breakeven | 34.6% | 8.5% |
| Time to Breakeven | 73 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -15.7% | -9.5% |
| % Gain to Breakeven | 18.7% | 10.5% |
| Time to Breakeven | 23 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -19.0% | -6.7% |
| % Gain to Breakeven | 23.4% | 7.1% |
| Time to Breakeven | 21 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -49.3% | -24.5% |
| % Gain to Breakeven | 97.2% | 32.4% |
| Time to Breakeven | 322 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -23.5% | -33.7% |
| % Gain to Breakeven | 30.7% | 50.9% |
| Time to Breakeven | 31 days | 140 days |
In The Past
Galiano Gold's stock fell -19.5% during the 2025 US Tariff Shock. Such a loss loss requires a 24.3% gain to breakeven.
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| Event | GAU | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -25.7% | -7.8% |
| % Gain to Breakeven | 34.6% | 8.5% |
| Time to Breakeven | 73 days | 18 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -49.3% | -24.5% |
| % Gain to Breakeven | 97.2% | 32.4% |
| Time to Breakeven | 322 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -23.5% | -33.7% |
| % Gain to Breakeven | 30.7% | 50.9% |
| Time to Breakeven | 31 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -34.4% | -19.2% |
| % Gain to Breakeven | 52.4% | 23.8% |
| Time to Breakeven | 222 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -24.7% | -12.2% |
| % Gain to Breakeven | 32.8% | 13.9% |
| Time to Breakeven | 19 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -44.2% | -6.8% |
| % Gain to Breakeven | 79.2% | 7.3% |
| Time to Breakeven | 372 days | 15 days |
| 2013 Taper Tantrum | ||
| % Loss | -38.7% | -0.2% |
| % Gain to Breakeven | 63.2% | 0.2% |
| Time to Breakeven | 151 days | 1 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -25.7% | -15.4% |
| % Gain to Breakeven | 34.6% | 18.2% |
| Time to Breakeven | 43 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -91.1% | -53.4% |
| % Gain to Breakeven | 1024.4% | 114.4% |
| Time to Breakeven | 320 days | 1085 days |
In The Past
Galiano Gold's stock fell -19.5% during the 2025 US Tariff Shock. Such a loss loss requires a 24.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Galiano Gold (GAU)
Galiano Gold Inc. (GAU) is a Canadian-headquartered mining company primarily focused on the exploration, development, and production of gold. Its core business revolves around identifying, developing, and operating gold properties to extract this precious metal, which serves as its sole commodity product.
The company's key operational asset and main production site is the Asanko Gold Mine, located in Ghana, West Africa. Galiano Gold operates within the global commodities market, with its gold production typically sold to metal refiners and bullion dealers who then supply various end-use markets, including jewelry, investment, and industrial applications worldwide.
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Here are 1-3 brief analogies for Galiano Gold (GAU):
- Think of it as a focused Barrick Gold, primarily operating one gold mine in Ghana.
- It's a gold producer, much like a smaller, Ghana-focused Kinross Gold.
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- Gold: Galiano Gold explores, develops, and produces gold from its mining operations, primarily the Asanko Gold Mine in Ghana.
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- Bigrock Mining Ghana Ltd.
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Matt Badylak President & Chief Executive Officer
Matt Badylak was appointed President & CEO of Galiano Gold on June 14, 2021, having previously served as the Executive Vice President and Chief Operating Officer. He is a mining professional with two decades of extensive experience in senior management and operational planning across various global locations, including Australia, Mongolia, China, Canada, Turkey, and Ghana. Before joining Galiano in 2020, Mr. Badylak held the position of General Manager Kisladag with Eldorado Gold, a mid-tier gold producer, where he also served in senior management roles such as Managing Director - China Operations and General Manager Tanjianshan. He is recognized for building strong, results-oriented teams and implementing cost-saving and operational efficiency programs. Matt holds a Bachelor of Science in Extractive Metallurgy and a Bachelor of Science in Chemistry from Murdoch University.
Matt Freeman Executive Vice President & Chief Financial Officer
Matt Freeman, who joined Galiano in 2020, holds the role of Executive Vice President and Chief Financial Officer, overseeing the company's financial strategy, planning, analysis, accounting, financial reporting, tax, and treasury functions. He possesses extensive financial experience and deep knowledge of the mining sector, with a successful track record in senior roles. Notably, he served as CFO of Energold Drilling, where he successfully navigated a corporate restructuring. Prior to that, Mr. Freeman held senior financial positions at SSR Mining, playing a crucial financial role in its growth to a mid-tier gold producer and leading initiatives in financial reporting, risk management, treasury management, and M&A activities. He holds a BA/MA from Oxford University and the ICAEW designation.
Michael Cardinaels Executive Vice President & Chief Operating Officer
Michael Cardinaels serves as the Executive Vice President and Chief Operating Officer at Galiano Gold.
Charles Amoah Executive Vice President and Managing Director, Asanko Gold Ghana Ltd.
Charles Amoah is the Executive Vice President and Managing Director of Asanko Gold Ghana Ltd. He holds a PhD in Mineral Engineering from the University of Mines and Technology in Tarkwa, Ghana. With expertise in managing mining operations, mineral engineering, metallurgy, and stakeholder relations, Mr. Amoah has been involved with the Asanko Gold Mine and its predecessor companies since 2012. He progressed from General Manager – Operations with PMI to Executive General Manager of the mine, where he led the team through permitting, construction, commissioning, and into operation.
Sean Gregersen Vice President, Corporate Development
Sean Gregersen joined Galiano Gold as Director of Corporate Development in April 2023 and is currently the Vice President, Corporate Development. He brings over 15 years of experience in the gold mining industry. Mr. Gregersen holds both a B.Sc. and an M.Sc. in Mining Engineering from Queen's University. His prior experience includes serving as Manager of Business Development with Eldorado Gold, where he contributed to the rapid growth of the mid-tier company through acquisition and development initiatives.
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Galiano Gold Inc. (GAU) faces several key risks to its business, primarily stemming from its operational environment and commodity market exposure.
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Operational Instability and Geopolitical Risks in Ghana: Galiano Gold's primary asset, the Asanko Gold Mine in Ghana, is susceptible to operational disruptions due to community conflicts, illegal mining activities, and the broader political and regulatory landscape in the region. Recent incidents have forced the temporary suspension of operations at key producing plants, raising uncertainty about the company's ability to meet production guidance. Clashes between local communities and security personnel at the mine site, sometimes involving fatalities, highlight significant social and security challenges. Furthermore, the company is exposed to potential changes in Ghana's mining and tax laws, such as the increase in the Growth and Sustainability Levy, which can impact profitability.
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Gold Price Volatility and Cost Management: The profitability and financial outlook of Galiano Gold are highly dependent on sustained strong gold prices. However, gold prices are historically volatile and can experience prolonged periods of decline. The company has also experienced net losses exacerbated by realized and unrealized losses from gold hedging agreements. Operational pressures, including harder ore processing and lower mobile crusher availability, have contributed to rising All-in Sustaining Costs (AISC), impacting overall financial performance and potentially squeezing margins.
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Mineral Reserve and Resource Uncertainty: The long-term viability of Galiano Gold is tied to the value of its mineral reserves and resources. There is a risk that mineral reserve and resource estimates may change or prove to be inaccurate, and metallurgical recoveries may not be economically viable. Declining ore grades also pose a risk to future project viability and production efficiency.
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Galiano Gold Inc. (GAU) operates in the gold mining sector, with its primary asset being the Asanko Gold Mine in Ghana, West Africa. Therefore, the addressable market for its main product, gold, can be assessed on both a global and regional (West Africa/Ghana) scale.
The global gold market demonstrates significant size and projected growth. In 2024, the global gold market was valued at approximately USD 291.68 billion. It is projected to reach USD 400 billion by the end of 2030, exhibiting a compound annual growth rate (CAGR) of 6.51% during the 2025-2030 forecast period. In terms of volume, the global gold market stood at 4,890.0 tons in 2025 and is expected to grow to 7,424.4 tons by 2034, with a CAGR of 4.70% from 2026. Another estimate projects the market to grow from 5.1 kilotons in 2026 to 7.25 kilotons by 2031, at a 7.30% CAGR.
Regionally, West Africa is a significant contributor to the global gold market, accounting for nearly 20% of global gold output. Specifically, Ghana, where Galiano Gold's operations are located, is Africa's leading gold producer. In 2024, Ghana's gold exports surged to USD 11.6 billion. By April 2025, Ghana recorded historic gold exports of USD 897.6 million for that month alone.
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Galiano Gold Inc. (GAU) is expected to drive future revenue growth over the next two to three years through a combination of increased gold production, successful exploration leading to expanded resources and reserves, and the processing of higher-grade ore, all within a potentially favorable gold price environment.
- Increased Gold Production: Galiano Gold anticipates a significant increase in gold ounces produced from its Asanko Gold Mine (AGM) in Ghana. The company provided 2026 production guidance of 140,000 to 160,000 ounces, representing an approximate 25% year-on-year increase from 2025 production levels. This growth is supported by operational improvements such as the commissioning and optimization of a secondary crusher, which has enhanced plant performance and mill throughput. Further, long-term plans project average annual gold production of up to 240,000 to 254,000 ounces through to 2031, with a peak of 275,000 ounces by 2029.
- Exploration Success and Resource/Reserve Expansion: The company has an aggressive exploration strategy to unlock the full potential of the AGM. Galiano plans to invest at least C$17 million in gold exploration in Ghana in 2026, marking a 70% year-on-year increase in its initial exploration budget, aimed at expanding reserves. Significant drilling programs are planned for key deposits like Abore (30,000 meters) and Esaase (9,000 meters) in 2026, with updated resource and reserve estimates expected by 2027. This exploration success is crucial for extending the mine life and underpinning future production increases.
- Processing of Higher-Grade Ore: Future revenue growth is also expected from processing higher-grade mill feed. This includes aggressive waste stripping at the Nkran deposit, planned for 2026, to access high-grade ore at depth. Additionally, higher grades are anticipated from deeper elevations at both Abore and Esaase in the coming years, which are expected to contribute significantly to increased gold production.
- Favorable Gold Price Environment: While not directly controlled by the company, a sustained favorable gold price environment significantly impacts Galiano Gold's revenue. Higher average gold sales prices were a primary driver of increased revenue and cash flow for the company in fiscal year 2025. A continued strong gold market would provide a tailwind for revenue growth in the next 2-3 years.
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Outbound Investments
- Galiano Gold acquired an additional 45% interest in the Asanko Gold Mine from Gold Fields on March 4, 2024.
- The company paid $25.0 million to Gold Fields Limited during Q4 2025 to settle the first deferred acquisition cost payment.
Capital Expenditures
- Galiano Gold capitalized $33.2 million in development pre-stripping costs at Nkran Cut 3 for the full year 2025.
- Planned development capital spend for Nkran in 2026 is between $100 million and $120 million, focused on advancing stripping at Nkran Cut 3.
- The company's 2026 exploration budget is $17 million, with plans for at least 65,000 meters of drilling to expand underground reserves at Abore and open-pit reserves at Esaase.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| With Galiano Gold Stock Surging, Have You Considered The Downside? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 66.56 |
| Mkt Cap | 39.1 |
| Rev LTM | 12,353 |
| Op Inc LTM | 4,666 |
| FCF LTM | 3,614 |
| FCF 3Y Avg | 1,805 |
| CFO LTM | 5,035 |
| CFO 3Y Avg | 3,007 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 60.6% |
| Rev Chg 3Y Avg | 32.5% |
| Rev Chg Q | 65.5% |
| QoQ Delta Rev Chg LTM | 13.3% |
| Op Inc Chg LTM | 130.0% |
| Op Inc Chg 3Y Avg | 161.3% |
| Op Mgn LTM | 49.0% |
| Op Mgn 3Y Avg | 32.0% |
| QoQ Delta Op Mgn LTM | 4.5% |
| CFO/Rev LTM | 50.0% |
| CFO/Rev 3Y Avg | 37.2% |
| FCF/Rev LTM | 35.2% |
| FCF/Rev 3Y Avg | 19.6% |
Price Behavior
| Market Price | $2.20 | |
| Market Cap ($ Bil) | 0.6 | |
| First Trading Date | 01/02/2008 | |
| Distance from 52W High | -38.4% | |
| 50 Days | 200 Days | |
| DMA Price | $2.35 | $2.55 |
| DMA Trend | up | down |
| Distance from DMA | -6.5% | -13.6% |
| 3M | 1YR | |
| Volatility | 57.9% | 72.5% |
| Downside Capture | 325.13 | 218.61 |
| Upside Capture | 177.95 | 214.47 |
| Correlation (SPY) | 68.8% | 34.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 4.29 | 2.98 | 2.77 | 2.30 | 1.78 | 0.88 |
| Up Beta | 2.76 | 2.10 | 2.64 | 2.21 | 1.71 | 0.97 |
| Down Beta | 7.47 | 8.11 | 2.02 | 1.95 | 1.13 | 0.86 |
| Up Capture | 257% | 117% | 169% | 277% | 357% | 105% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 10 | 18 | 26 | 65 | 126 | 362 |
| Down Capture | 636% | 585% | 363% | 224% | 158% | 85% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 7 | 18 | 32 | 54 | 108 | 351 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GAU | |
|---|---|---|---|---|
| GAU | 55.1% | 72.5% | 0.91 | - |
| Sector ETF (XLB) | 21.2% | 17.5% | 0.94 | 39.4% |
| Equity (SPY) | 26.5% | 12.4% | 1.61 | 34.3% |
| Gold (GLD) | 24.2% | 27.5% | 0.77 | 63.4% |
| Commodities (DBC) | 19.8% | 18.8% | 0.83 | 6.0% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.52 | 12.8% |
| Bitcoin (BTCUSD) | -38.3% | 42.4% | -1.02 | 22.2% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GAU | |
|---|---|---|---|---|
| GAU | 12.0% | 62.3% | 0.43 | - |
| Sector ETF (XLB) | 5.9% | 19.0% | 0.20 | 29.5% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 22.3% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | 50.1% |
| Commodities (DBC) | 7.5% | 19.4% | 0.29 | 20.8% |
| Real Estate (VNQ) | 1.9% | 18.9% | 0.00 | 18.4% |
| Bitcoin (BTCUSD) | 11.6% | 54.2% | 0.41 | 15.8% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GAU | |
|---|---|---|---|---|
| GAU | -6.2% | 65.2% | 0.18 | - |
| Sector ETF (XLB) | 10.2% | 20.7% | 0.44 | 22.1% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 16.7% |
| Gold (GLD) | 12.3% | 16.1% | 0.63 | 46.5% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 19.8% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 15.1% |
| Bitcoin (BTCUSD) | 60.4% | 66.8% | 1.00 | 8.1% |
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Returns Analyses
Earnings Returns History
Updated 6/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/14/2026 | 6-K |
| 12/31/2025 | 03/12/2026 | 40-F |
| 09/30/2025 | 11/07/2025 | 6-K |
| 06/30/2025 | 08/14/2025 | 6-K |
| 03/31/2025 | 05/15/2025 | 6-K |
| 12/31/2024 | 03/17/2025 | 40-F |
| 09/30/2024 | 11/08/2024 | 6-K |
| 06/30/2024 | 08/08/2024 | 6-K |
| 03/31/2024 | 05/03/2024 | 6-K |
| 12/31/2023 | 03/26/2024 | 40-F |
| 09/30/2023 | 11/14/2023 | 6-K |
| 06/30/2023 | 08/02/2023 | 6-K |
| 03/31/2023 | 05/04/2023 | 6-K |
| 12/31/2022 | 03/29/2023 | 40-F |
| 09/30/2022 | 11/09/2022 | 6-K |
| 06/30/2022 | 08/12/2022 | 6-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/14/2026 | 6-K |
| 12/31/2025 | 03/12/2026 | 40-F |
| 09/30/2025 | 11/07/2025 | 6-K |
| 06/30/2025 | 08/14/2025 | 6-K |
| 03/31/2025 | 05/15/2025 | 6-K |
| 12/31/2024 | 03/17/2025 | 40-F |
| 09/30/2024 | 11/08/2024 | 6-K |
| 06/30/2024 | 08/08/2024 | 6-K |
| 03/31/2024 | 05/03/2024 | 6-K |
| 12/31/2023 | 03/26/2024 | 40-F |
| 09/30/2023 | 11/14/2023 | 6-K |
| 06/30/2023 | 08/02/2023 | 6-K |
| 03/31/2023 | 05/04/2023 | 6-K |
| 12/31/2022 | 03/29/2023 | 40-F |
| 09/30/2022 | 11/09/2022 | 6-K |
| 06/30/2022 | 08/12/2022 | 6-K |
| 03/31/2022 | 05/06/2022 | 6-K |
| 12/31/2021 | 03/30/2022 | 40-F |
| 09/30/2021 | 11/10/2021 | 6-K |
| 06/30/2021 | 08/12/2021 | 6-K |
| 03/31/2021 | 05/05/2021 | 6-K |
| 12/31/2020 | 03/26/2021 | 40-F |
| 09/30/2020 | 11/06/2020 | 6-K |
| 06/30/2020 | 07/30/2020 | 6-K |
| 03/31/2020 | 05/07/2020 | 6-K |
| 12/31/2019 | 03/18/2020 | 40-F |
| 09/30/2019 | 11/07/2019 | 6-K |
| 06/30/2019 | 08/01/2019 | 6-K |
Industry Resources
| Materials Resources |
| Chemical & Engineering News (C&EN) |
| Mining.com |
| Plastics News |
| Gold Resources |
| Kitco News |
| World Gold Council |
| Mining Journal |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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