Forge First Asset Management Inc. Makes New Investment in Galiano Gold Inc. $GAU

Forge First Asset Management Inc. purchased a new stake in Galiano Gold Inc. (NYSEAMERICAN:GAU) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,000,000 shares of the company’s stock, valued at approximately $2,177,000. Galiano Gold comprises approximately 1.0% of Forge First Asset Management Inc.’s portfolio, making the stock its 27th biggest holding.

Several other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. lifted 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 purchasing an additional 22,603 shares during the last quarter. American Century Companies Inc. increased its position 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 buying an additional 9,558 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its stake in Galiano Gold by 177.0% in the second quarter. Dynamic Technology Lab Private Ltd now owns 46,466 shares of the company’s stock valued at $59,000 after buying an additional 29,690 shares during the period. XTX Topco Ltd acquired a new stake in shares of Galiano Gold in the second quarter valued at approximately $74,000. Finally, Jane Street Group LLC acquired a new stake in shares of Galiano Gold in the second quarter valued at approximately $142,000. 66.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Scotiabank restated a “sector perform” rating on shares of Galiano Gold in a research note on Monday, January 26th. HC Wainwright upped their price objective on shares of Galiano Gold from $3.20 to $4.25 and gave the company a “buy” rating in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $4.25.

Galiano Gold Stock Performance

NYSEAMERICAN:GAU opened at $3.41 on Friday. The stock has a 50 day simple moving average of $2.83 and a 200 day simple moving average of $2.52. The stock has a market cap of $885.88 million, a P/E ratio of -28.41 and a beta of 0.87. Galiano Gold Inc. has a 1-year low of $1.00 and a 1-year high of $3.41. The company has a current ratio of 0.92, a quick ratio of 0.60 and a debt-to-equity ratio of 0.07.

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.