Galiano Gold (NYSEAMERICAN:GAU) Shares Down 4.7%

Galiano Gold Inc. (NYSEAMERICAN:GAU) dropped 4.7% during mid-day trading on Friday . The company traded as low as $1.62 and last traded at $1.64. Approximately 1,110,566 shares traded hands during mid-day trading, an increase of 5% from the average daily volume of 1,061,054 shares. The stock had previously closed at $1.72.

Analyst Ratings Changes

A number of research firms have commented on GAU. HC Wainwright upped their price objective on shares of Galiano Gold from $4.30 to $4.40 and gave the company a “buy” rating in a research note on Tuesday, May 7th. BMO Capital Markets upped their price target on shares of Galiano Gold from $1.50 to $2.25 and gave the company an “outperform” rating in a research report on Thursday, March 7th.

Galiano Gold Trading Down 4.7 %

The company’s 50 day moving average is $0.61. The stock has a market capitalization of $416.77 million, a price-to-earnings ratio of 32.80 and a beta of 1.10.

Galiano Gold (NYSEAMERICAN:GAU) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). The business had revenue of $31.70 million for the quarter. As a group, sell-side analysts forecast that Galiano Gold Inc. will post 0.25 earnings per share for the current fiscal year.

Institutional Trading of Galiano Gold

Institutional investors and hedge funds have recently modified their holdings of the company. Equinox Partners Investment Management LLC lifted its position in shares of Galiano Gold by 1.9% during the 1st quarter. Equinox Partners Investment Management LLC now owns 36,225,936 shares of the company’s stock worth $50,300,000 after purchasing an additional 662,500 shares during the last quarter. Donald Smith & CO. Inc. lifted its holdings in shares of Galiano Gold by 39.3% during the fourth quarter. Donald Smith & CO. Inc. now owns 17,089,969 shares of the company’s stock worth $16,063,000 after buying an additional 4,817,585 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in shares of Galiano Gold during the fourth quarter worth approximately $1,500,000. Acadian Asset Management LLC boosted its position in shares of Galiano Gold by 172.5% in the first quarter. Acadian Asset Management LLC now owns 329,874 shares of the company’s stock valued at $453,000 after acquiring an additional 208,800 shares during the period. Finally, Sapient Capital LLC acquired a new stake in shares of Galiano Gold in the first quarter worth $279,000. 66.82% of the stock is currently owned by institutional investors and hedge funds.

Galiano Gold Company Profile

Galiano Gold Inc engages in the exploration and evaluation of gold properties in Canada. Its flagship asset is the Asanko Gold Mine that covers an area of approximately 21,000 hectares located in Ghana, West Africa. The company was formerly known as Asanko Gold Inc and changed its name to Galiano Gold Inc in May 2020.