Galiano Gold Inc. $GAU Shares Sold by Equinox Partners Investment Management LLC

Equinox Partners Investment Management LLC reduced its stake in Galiano Gold Inc. (NYSEAMERICAN:GAU) by 32.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,357,961 shares of the company’s stock after selling 4,482,817 shares during the period. Galiano Gold accounts for about 9.5% of Equinox Partners Investment Management LLC’s holdings, making the stock its 4th biggest position. Equinox Partners Investment Management LLC owned 3.58% of Galiano Gold worth $23,402,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GAU. 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 in the fourth quarter valued at approximately $38,000. Allworth Financial LP purchased a new position in shares of Galiano Gold during the third quarter worth approximately $51,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Galiano Gold during the fourth quarter worth approximately $55,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of Galiano Gold in the 4th quarter valued at $55,000. Institutional investors and hedge funds own 66.82% of the company’s stock.

Galiano Gold Stock Performance

Shares of GAU opened at $1.87 on Wednesday. Galiano Gold Inc. has a fifty-two week low of $1.26 and a fifty-two week high of $3.62. The firm has a 50-day simple moving average of $2.25 and a 200-day simple moving average of $2.57. The company has a market capitalization of $488.67 million, a price-to-earnings ratio of 18.70 and a beta of 0.78.

Analysts Set New Price Targets

Separately, Freedom Capital upgraded shares of Galiano Gold from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Galiano Gold currently has an average rating of “Buy” and an average target price of $4.25.

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.