Galiano Gold (NYSEAMERICAN:GAU) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Galiano Gold (NYSEAMERICAN:GAU) from a strong sell rating to a hold rating in a research note published on Wednesday,Zacks.com reports.

Other research analysts also recently issued reports about the company. Canaccord Genuity Group upgraded Galiano Gold to a “strong-buy” rating in a report on Thursday, August 13th. Freedom Capital upgraded Galiano Gold from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Galiano Gold presently has an average rating of “Buy” and a consensus price target of $4.25.

Galiano Gold Stock Up 1.7%

Shares of NYSEAMERICAN GAU opened at $2.41 on Wednesday. Galiano Gold has a twelve month low of $1.66 and a twelve month high of $3.62. The firm has a market cap of $630.00 million, a PE ratio of 9.27 and a beta of 0.86. The business has a fifty day simple moving average of $1.97 and a two-hundred day simple moving average of $2.35.

Galiano Gold (NYSEAMERICAN:GAU) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The firm had revenue of $183.75 million for the quarter, compared to the consensus estimate of $151.85 million. Galiano Gold had a return on equity of 35.34% and a net margin of 12.19%. On average, research analysts expect that Galiano Gold will post 0.57 earnings per share for the current year.

Hedge Funds Weigh In On Galiano Gold

Institutional investors have recently modified their holdings of the stock. American Century Companies Inc. boosted its stake in shares of Galiano Gold by 25.9% in the second quarter. American Century Companies Inc. now owns 46,431 shares of the company’s stock worth $59,000 after buying an additional 9,558 shares during the last quarter. Two Sigma Securities LLC raised its position in Galiano Gold by 65.4% during the second quarter. Two Sigma Securities LLC now owns 24,862 shares of the company’s stock valued at $46,000 after acquiring an additional 9,828 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Galiano Gold in the third quarter valued at approximately $28,000. Mariner LLC purchased a new stake in Galiano Gold in the 4th quarter worth approximately $38,000. Finally, JPMorgan Chase & Co. boosted its position in Galiano Gold by 10.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 169,962 shares of the company’s stock worth $372,000 after purchasing an additional 16,006 shares in the last quarter. Hedge funds and other 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.