Van ECK Associates Corp Raises Holdings in Galiano Gold Inc. (NYSEAMERICAN:GAU)

Van ECK Associates Corp boosted its stake in shares of Galiano Gold Inc. (NYSEAMERICAN:GAU) by 43.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,854,000 shares of the company’s stock after acquiring an additional 2,070,000 shares during the quarter. Van ECK Associates Corp’s holdings in Galiano Gold were worth $9,733,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Donald Smith & CO. Inc. raised its position in shares of Galiano Gold by 33.3% in the third quarter. Donald Smith & CO. Inc. now owns 23,881,323 shares of the company’s stock worth $33,911,000 after acquiring an additional 5,961,685 shares during the period. Marshall Wace LLP increased its stake in shares of Galiano Gold by 208.8% in the 2nd quarter. Marshall Wace LLP now owns 1,498,359 shares of the company’s stock valued at $2,577,000 after purchasing an additional 1,013,141 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Galiano Gold by 186.2% in the 2nd quarter. Acadian Asset Management LLC now owns 944,190 shares of the company’s stock worth $1,613,000 after purchasing an additional 614,316 shares during the period. Virtu Financial LLC purchased a new position in Galiano Gold during the first quarter worth approximately $118,000. Finally, National Bank of Canada FI acquired a new stake in Galiano Gold in the second quarter valued at approximately $59,000. 66.82% of the stock is owned by institutional investors and hedge funds.

Galiano Gold Price Performance

Shares of NYSEAMERICAN GAU opened at $1.58 on Thursday. The stock has a market cap of $405.97 million, a P/E ratio of 52.67 and a beta of 1.10. Galiano Gold Inc. has a 12-month low of $0.52 and a 12-month high of $2.00.

Galiano Gold (NYSEAMERICAN:GAU) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). The firm had revenue of $63.00 million during the quarter. As a group, equities analysts forecast that Galiano Gold Inc. will post 0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reduced their target price on Galiano Gold from $4.40 to $4.20 and set a “buy” rating for the company in a research note on Monday, August 12th.

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.