Galiano Gold (NYSEAMERICAN:GAU) Shares Gap Up – What’s Next?

Galiano Gold Inc. (NYSEAMERICAN:GAU) shares gapped up before the market opened on Wednesday . The stock had previously closed at $2.24, but opened at $2.39. Galiano Gold shares last traded at $2.3380, with a volume of 622,316 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GAU shares. 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 report on Thursday, February 19th. Scotiabank restated a “sector perform” rating on shares of Galiano Gold in a research report on Monday, January 26th. One 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, Galiano Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.25.

Galiano Gold Stock Performance

The company has a market cap of $574.14 million, a price-to-earnings ratio of -18.42 and a beta of 0.82. The firm’s 50-day moving average price is $2.88 and its 200 day moving average price is $2.62.

Institutional Trading of Galiano Gold

Several institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new position in shares of Galiano Gold in the 3rd quarter valued at $28,000. Mariner LLC acquired a new stake in shares of Galiano Gold during the fourth quarter worth $38,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Galiano Gold during the fourth quarter worth $55,000. Russell Investments Group Ltd. bought a new stake in Galiano Gold in the fourth quarter valued at about $55,000. Finally, Allworth Financial LP bought a new stake in Galiano Gold in the third quarter valued at about $51,000. Institutional investors 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.