Galiano Gold (NYSEAMERICAN:GAU) Rating Increased to Strong-Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Galiano Gold (NYSEAMERICAN:GAU) to a strong-buy rating in a research note published on Thursday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Freedom Capital raised Galiano Gold from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. Zacks Research cut shares of Galiano Gold from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $4.25.

Galiano Gold Price Performance

NYSEAMERICAN:GAU opened at $2.09 on Thursday. The stock has a market cap of $546.35 million, a P/E ratio of 8.04 and a beta of 0.86. The business’s 50-day moving average price is $1.93 and its two-hundred day moving average price is $2.39. Galiano Gold has a twelve month low of $1.66 and a twelve month high of $3.62.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Franklin Resources Inc. lifted its holdings in shares of Galiano Gold by 11.0% during the fourth quarter. Franklin Resources Inc. now owns 12,017,262 shares of the company’s stock valued at $30,557,000 after purchasing an additional 1,193,760 shares in the last quarter. Bank of America Corp DE raised its position in Galiano Gold by 465.0% in the 3rd quarter. Bank of America Corp DE now owns 7,551,829 shares of the company’s stock worth $16,539,000 after buying an additional 6,215,190 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Galiano Gold by 10.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,872,117 shares of the company’s stock worth $17,224,000 after buying an additional 672,133 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Galiano Gold by 12.9% during the 1st quarter. Renaissance Technologies LLC now owns 5,006,653 shares of the company’s stock valued at $12,567,000 after acquiring an additional 573,000 shares during the period. Finally, Millennium Management LLC lifted its stake in Galiano Gold by 23.9% during the 4th quarter. Millennium Management LLC now owns 4,812,612 shares of the company’s stock valued at $12,205,000 after acquiring an additional 927,601 shares during the period. Hedge funds and other institutional investors own 66.82% of the company’s stock.

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.