Ruffer LLP Cuts Position in Galiano Gold Inc. $GAU

Ruffer LLP reduced its stake in shares of Galiano Gold Inc. (NYSEAMERICAN:GAU) by 12.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 16,611,028 shares of the company’s stock after selling 2,332,224 shares during the period. Galiano Gold makes up approximately 2.0% of Ruffer LLP’s portfolio, making the stock its 17th largest position. Ruffer LLP owned about 0.06% of Galiano Gold worth $36,172,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Aegis Financial Corp increased its holdings in Galiano Gold by 162.5% in the second quarter. Aegis Financial Corp now owns 6,505,921 shares of the company’s stock valued at $8,250,000 after buying an additional 4,027,090 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Galiano Gold in the 2nd quarter worth approximately $568,000. Pale Fire Capital SE increased its stake in Galiano Gold by 67.2% in the 2nd quarter. Pale Fire Capital SE now owns 6,011,627 shares of the company’s stock valued at $7,635,000 after purchasing an additional 2,415,530 shares in the last quarter. Bank of Montreal Can raised its holdings in Galiano Gold by 543.0% during the second quarter. Bank of Montreal Can now owns 1,083,699 shares of the company’s stock worth $1,378,000 after purchasing an additional 915,154 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its holdings in Galiano Gold by 177.0% during the second 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 during the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

Galiano Gold Stock Performance

Galiano Gold stock opened at $3.16 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 0.98. Galiano Gold Inc. has a fifty-two week low of $1.00 and a fifty-two week high of $3.26. The stock has a fifty day moving average of $2.60 and a two-hundred day moving average of $2.31. The company has a market capitalization of $820.94 million, a price-to-earnings ratio of -17.55 and a beta of 0.86.

Wall Street Analyst Weigh In

Separately, Scotiabank reissued a “sector perform” rating on shares of Galiano Gold in a report on Monday. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $3.20.

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.