Donald Smith & CO. Inc. Sells 582,676 Shares of Galiano Gold Inc. $GAU

Donald Smith & CO. Inc. decreased its position in shares of Galiano Gold Inc. (NYSEAMERICAN:GAU) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,509,371 shares of the company’s stock after selling 582,676 shares during the quarter. Donald Smith & CO. Inc. owned approximately 0.10% of Galiano Gold worth $32,397,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of GAU. American Century Companies Inc. boosted its holdings in shares of Galiano Gold by 25.9% in the 2nd quarter. American Century Companies Inc. now owns 46,431 shares of the company’s stock valued at $59,000 after acquiring an additional 9,558 shares during the last quarter. Sprott Inc. boosted its position in Galiano Gold by 55.9% during the first quarter. Sprott Inc. now owns 49,362 shares of the company’s stock worth $61,000 after purchasing an additional 17,700 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in 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 period. Dynamic Technology Lab Private Ltd increased its stake in shares of Galiano Gold by 177.0% during the second quarter. Dynamic Technology Lab Private Ltd now owns 46,466 shares of the company’s stock worth $59,000 after purchasing an additional 29,690 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Galiano Gold during the second quarter valued at approximately $74,000. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. HC Wainwright raised their price target on shares of Galiano Gold from $2.80 to $3.20 and gave the stock a “buy” rating in a research note on Thursday, August 14th. Scotiabank raised Galiano Gold to a “hold” rating in a research report on Friday, November 28th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $3.20.

Galiano Gold Stock Performance

NYSEAMERICAN GAU opened at $2.39 on Friday. The company has a fifty day moving average of $2.44 and a two-hundred day moving average of $1.97. The company has a market capitalization of $620.90 million, a PE ratio of -13.28 and a beta of 0.85. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.98 and a quick ratio of 0.70. Galiano Gold Inc. has a 1 year low of $1.00 and a 1 year high of $3.12.

Galiano Gold Company Profile

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.