Galiano Gold (NYSEAMERICAN:GAU) Shares Gap Up – Still a Buy?

Shares of Galiano Gold Inc. (NYSEAMERICAN:GAU) gapped up prior to trading on Friday . The stock had previously closed at $2.73, but opened at $2.90. Galiano Gold shares last traded at $3.0560, with a volume of 1,386,042 shares.

Analyst Upgrades and Downgrades

Separately, Scotiabank reaffirmed a “sector perform” rating on shares of Galiano Gold in a research note on Monday, January 26th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $3.20.

Galiano Gold Stock Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 0.98 and a quick ratio of 0.70. The stock has a market cap of $791.06 million, a price-to-earnings ratio of -16.92 and a beta of 0.87. The firm has a fifty day moving average of $2.70 and a 200 day moving average of $2.41.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Aegis Financial Corp raised its holdings in Galiano Gold by 162.5% in the 2nd 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 during the period. Quadrature Capital Ltd purchased a new stake in shares of Galiano Gold in the 2nd quarter valued at approximately $568,000. Pale Fire Capital SE lifted its holdings in shares of Galiano Gold by 67.2% in the 2nd quarter. Pale Fire Capital SE now owns 6,011,627 shares of the company’s stock worth $7,635,000 after acquiring an additional 2,415,530 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Galiano Gold by 543.0% in the 2nd quarter. Bank of Montreal Can now owns 1,083,699 shares of the company’s stock worth $1,378,000 after acquiring an additional 915,154 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its position in shares of Galiano Gold by 177.0% during 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 during the period. Institutional investors and hedge funds own 66.82% of the company’s stock.

About Galiano Gold

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.