Galiano Gold (NYSEAMERICAN:GAU) Downgraded to “Strong Sell” Rating by Zacks Research

Galiano Gold (NYSEAMERICAN:GAU) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

Separately, Freedom Capital raised shares of Galiano Gold from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $4.25.

Galiano Gold Stock Up 0.6%

GAU opened at $1.75 on Tuesday. The company has a market capitalization of $457.31 million, a price-to-earnings ratio of 17.50 and a beta of 0.84. The firm has a 50-day moving average price of $2.00 and a 200-day moving average price of $2.47. Galiano Gold has a twelve month low of $1.26 and a twelve month high of $3.62.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GAU. Bank of America Corp DE increased its position in shares of Galiano Gold by 465.0% during the third quarter. Bank of America Corp DE now owns 7,551,829 shares of the company’s stock valued at $16,539,000 after buying an additional 6,215,190 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Galiano Gold by 3,458.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,166,956 shares of the company’s stock valued at $11,291,000 after acquiring an additional 5,021,749 shares during the period. Millennium Management LLC boosted its position in shares of Galiano Gold by 7,622.3% in the third quarter. Millennium Management LLC now owns 3,885,011 shares of the company’s stock valued at $8,491,000 after acquiring an additional 3,834,702 shares during the period. Franklin Resources Inc. grew its stake in Galiano Gold by 44.5% during the third quarter. Franklin Resources Inc. now owns 10,823,502 shares of the company’s stock valued at $23,560,000 after acquiring an additional 3,331,240 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in Galiano Gold by 227.1% during the 3rd quarter. Marshall Wace LLP now owns 3,490,788 shares of the company’s stock worth $7,645,000 after acquiring an additional 2,423,689 shares during the period. Hedge funds and other 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.