Galiano Gold (NYSEAMERICAN:GAU) Shares Gap Up Following Analyst Upgrade

Galiano Gold Inc. (NYSEAMERICAN:GAU) shares gapped up prior to trading on Monday after Scotiabank upgraded the stock to a hold rating. The stock had previously closed at $2.43, but opened at $2.51. Galiano Gold shares last traded at $2.4150, with a volume of 511,392 shares.

Separately, HC Wainwright upped their price objective on Galiano Gold from $2.80 to $3.20 and gave the company a “buy” rating in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $3.20.

Hedge Funds Weigh In On Galiano Gold

Several large investors have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new position in Galiano Gold during the 3rd quarter worth about $28,000. Allworth Financial LP acquired a new position in Galiano Gold in the 3rd quarter valued at about $51,000. SBI Securities Co. Ltd. increased its stake in Galiano Gold by 939.4% during the second quarter. SBI Securities Co. Ltd. now owns 25,009 shares of the company’s stock worth $32,000 after purchasing an additional 22,603 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Galiano Gold during the third quarter worth about $96,000. Finally, 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 valued at $59,000 after purchasing an additional 9,558 shares during the period. Institutional investors and hedge funds own 66.82% of the company’s stock.

Galiano Gold Trading Down 1.2%

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 firm has a market cap of $620.90 million, a PE ratio of -13.28 and a beta of 0.85. The company’s 50 day moving average price is $2.43 and its 200 day moving average price is $1.95.

About Galiano Gold

Galiano Gold Inc engages in the exploration and evaluation of gold properties in Canada. Its flagship asset is the Asanko Gold Mine that covers an area of approximately 21,000 hectares located in Ghana, West Africa. The company was formerly known as Asanko Gold Inc and changed its name to Galiano Gold Inc in May 2020.