Galiano Gold (NYSEAMERICAN:GAU) Trading 3.8% Higher – Here’s Why

Galiano Gold Inc. (NYSEAMERICAN:GAU) was up 3.8% on Tuesday . The company traded as high as $2.63 and last traded at $2.6050. Approximately 641,036 shares traded hands during trading, a decline of 66% from the average daily volume of 1,863,498 shares. The stock had previously closed at $2.51.

Analysts Set New Price Targets

Separately, Scotiabank upgraded shares of Galiano Gold to a “hold” rating in a 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $3.20.

Galiano Gold Stock Performance

The stock has a market capitalization of $687.14 million, a PE ratio of -14.69 and a beta of 0.85. The firm’s 50 day moving average is $2.40 and its two-hundred day moving average is $2.09. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 0.98.

Institutional Investors Weigh In On Galiano Gold

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Galiano Gold in the third quarter valued at $28,000. SBI Securities Co. Ltd. lifted its holdings in Galiano Gold by 939.4% during the 2nd quarter. SBI Securities Co. Ltd. now owns 25,009 shares of the company’s stock worth $32,000 after buying an additional 22,603 shares during the last quarter. Allworth Financial LP acquired a new position in shares of Galiano Gold during the 3rd quarter worth about $51,000. Dynamic Technology Lab Private Ltd boosted its position in shares of Galiano Gold by 177.0% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 46,466 shares of the company’s stock worth $59,000 after acquiring an additional 29,690 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Galiano Gold by 25.9% during the second quarter. American Century Companies Inc. now owns 46,431 shares of the company’s stock worth $59,000 after purchasing an additional 9,558 shares during the last quarter. 66.82% of the stock is currently owned by institutional investors and hedge funds.

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.