Galiano Gold (NYSEAMERICAN:GAU) Shares Up 7.4% – Here’s What Happened

Galiano Gold Inc. (NYSEAMERICAN:GAU)’s share price was up 7.4% during mid-day trading on Tuesday . The company traded as high as $3.01 and last traded at $2.9850. Approximately 1,126,554 shares changed hands during trading, a decline of 55% from the average daily volume of 2,476,842 shares. The stock had previously closed at $2.78.

Analysts Set New Price Targets

Separately, Scotiabank raised shares of Galiano Gold to a “hold” rating in a research note on Friday, November 28th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $3.20.

Galiano Gold Stock Up 7.7%

The stock’s 50 day moving average is $2.48 and its 200 day moving average is $2.24. The company has a market capitalization of $778.07 million, a PE ratio of -16.64 and a beta of 0.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 0.98.

Institutional Trading of Galiano Gold

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in Galiano Gold in the 3rd quarter worth about $28,000. SBI Securities Co. Ltd. grew its stake in Galiano Gold by 939.4% during the second quarter. SBI Securities Co. Ltd. now owns 25,009 shares of the company’s stock valued at $32,000 after acquiring an additional 22,603 shares in the last quarter. Allworth Financial LP bought a new stake in Galiano Gold during the 3rd quarter worth approximately $51,000. Dynamic Technology Lab Private Ltd lifted its stake in Galiano Gold by 177.0% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 46,466 shares of the company’s stock worth $59,000 after purchasing an additional 29,690 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Galiano Gold by 25.9% in the 2nd quarter. American Century Companies Inc. now owns 46,431 shares of the company’s stock worth $59,000 after purchasing an additional 9,558 shares in the last quarter. 66.82% of the stock is currently owned by institutional investors.

Galiano Gold Company Profile

Galiano Gold Incorporated is a Canada-based gold exploration and development company listed on the NYSE American under the symbol GAU. The company’s primary focus is the acquisition, exploration and advancement of gold deposits in the Americas. Galiano Gold pursues a value-driven strategy to build gold resources by identifying high-potential projects, conducting systematic drilling programs and advancing resource definition toward a development decision.

Galiano Gold’s flagship asset is the Oko West and Oko East gold project located in the Essequibo region of Guyana, where multiple oxide and primary gold mineralized zones have been outlined through extensive drilling.