Galiano Gold (NYSEAMERICAN:GAU) Hits New 12-Month High – Here’s Why

Galiano Gold Inc. (NYSEAMERICAN:GAU) reached a new 52-week high during trading on Friday . The stock traded as high as $3.12 and last traded at $3.0750, with a volume of 788241 shares changing hands. The stock had previously closed at $3.07.

Analysts Set New Price Targets

Separately, Scotiabank upgraded shares of Galiano Gold to a “hold” rating in a research note on Friday, November 28th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.20.

Galiano Gold Trading Up 0.2%

The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 0.98. The company has a 50-day simple moving average of $2.52 and a 200 day simple moving average of $2.26. The company has a market capitalization of $798.85 million, a P/E ratio of -17.13 and a beta of 0.86.

Hedge Funds Weigh In On Galiano Gold

Several large investors have recently bought and sold shares of GAU. Raymond James Financial Inc. acquired a new stake in Galiano Gold in the 3rd quarter worth $28,000. Allworth Financial LP acquired a new stake in Galiano Gold during the third quarter worth about $51,000. SBI Securities Co. Ltd. grew its position 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 buying an additional 22,603 shares in the last quarter. Mirabella Financial Services LLP bought a new position in Galiano Gold during the third quarter valued at about $60,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Galiano Gold in the 3rd quarter valued at approximately $96,000. 66.82% of the stock is currently owned by institutional investors and hedge funds.

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.