HC Wainwright Forecasts Strong Price Appreciation for Galiano Gold (NYSEAMERICAN:GAU) Stock

Galiano Gold (NYSEAMERICAN:GAU) had its price objective raised by HC Wainwright from $4.20 to $4.60 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Galiano Gold’s FY2024 earnings at $0.10 EPS and FY2025 earnings at $0.46 EPS.

Galiano Gold Price Performance

Shares of NYSEAMERICAN:GAU opened at $1.43 on Tuesday. Galiano Gold has a 52-week low of $0.58 and a 52-week high of $2.00. The firm has a market capitalization of $366.14 million, a price-to-earnings ratio of -71.25 and a beta of 1.10.

Institutional Trading of Galiano Gold

Several hedge funds have recently made changes to their positions in the company. Donald Smith & CO. Inc. increased its position in shares of Galiano Gold by 33.3% during the 3rd quarter. Donald Smith & CO. Inc. now owns 23,881,323 shares of the company’s stock worth $33,911,000 after purchasing an additional 5,961,685 shares during the last quarter. Van ECK Associates Corp purchased a new stake in shares of Galiano Gold in the 2nd quarter valued at $8,219,000. Marshall Wace LLP grew its position in 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 acquiring an additional 1,013,141 shares in the last quarter. Acadian Asset Management LLC increased its stake in Galiano Gold by 186.2% during the second 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. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Galiano Gold during the third quarter worth about $639,000. Hedge funds and other institutional investors own 66.82% of the company’s stock.

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.