Galiano Gold (NYSEAMERICAN:GAU) Shares Down 5.7% – Here’s Why

Galiano Gold Inc. (NYSEAMERICAN:GAU)’s share price dropped 5.7% on Friday . The company traded as low as $2.73 and last traded at $2.7450. Approximately 1,269,020 shares were traded during trading, a decline of 65% from the average daily volume of 3,640,085 shares. The stock had previously closed at $2.91.

Analyst Ratings Changes

Several research analysts have recently commented on GAU shares. Scotiabank reissued a “sector perform” rating on shares of Galiano Gold in a research report on Monday, January 26th. HC Wainwright boosted their price objective on shares of Galiano Gold from $3.20 to $4.25 and gave the stock a “buy” rating in a research note on Thursday, February 19th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4.25.

Galiano Gold Price Performance

The stock has a market capitalization of $671.56 million, a P/E ratio of -21.54 and a beta of 0.82. The stock’s fifty day moving average is $2.95 and its 200-day moving average is $2.62. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.92 and a quick ratio of 0.60.

Institutional Trading of Galiano Gold

Several hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in Galiano Gold in the 3rd quarter valued at $28,000. SBI Securities Co. Ltd. increased its stake in shares of Galiano Gold by 939.4% in the 2nd 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 during the last quarter. Mariner LLC bought a new position in shares of Galiano Gold during the 4th quarter valued at about $38,000. Allworth Financial LP bought a new stake in shares of Galiano Gold in the third quarter valued at about $51,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Galiano Gold during the fourth quarter worth about $55,000. Institutional investors own 66.82% of the company’s stock.

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.