Galiano Gold Inc. $GAU Shares Sold by Royal Bank of Canada

Royal Bank of Canada trimmed its holdings in shares of Galiano Gold Inc. (NYSEAMERICAN:GAU) by 91.0% during the first quarter, Holdings Channel reports. The fund owned 43,532 shares of the company’s stock after selling 440,590 shares during the quarter. Royal Bank of Canada’s holdings in Galiano Gold were worth $109,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Bank of America Corp DE raised its position in shares of 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 valued at $16,539,000 after purchasing an additional 6,215,190 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Galiano Gold by 3,458.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 5,166,956 shares of the company’s stock worth $11,291,000 after buying an additional 5,021,749 shares in the last quarter. Millennium Management LLC increased its stake in shares of Galiano Gold by 7,622.3% in the third quarter. Millennium Management LLC now owns 3,885,011 shares of the company’s stock worth $8,491,000 after buying an additional 3,834,702 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Galiano Gold by 44.5% in the third quarter. Franklin Resources Inc. now owns 10,823,502 shares of the company’s stock worth $23,560,000 after buying an additional 3,331,240 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Galiano Gold by 227.1% in the third quarter. Marshall Wace LLP now owns 3,490,788 shares of the company’s stock worth $7,645,000 after buying an additional 2,423,689 shares during the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

Galiano Gold Stock Down 1.3%

GAU stock opened at $2.26 on Tuesday. The firm’s 50-day simple moving average is $1.97 and its 200 day simple moving average is $2.35. The stock has a market cap of $590.79 million, a PE ratio of 8.69 and a beta of 0.86. Galiano Gold Inc. has a fifty-two week low of $1.66 and a fifty-two week high of $3.62.

Galiano Gold (NYSEAMERICAN:GAU) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). The business had revenue of $183.75 million during the quarter, compared to the consensus estimate of $151.85 million. Galiano Gold had a return on equity of 35.34% and a net margin of 12.19%. Equities analysts forecast that Galiano Gold Inc. will post 0.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GAU has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Galiano Gold from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 26th. Freedom Capital raised shares of Galiano Gold from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Finally, Canaccord Genuity Group upgraded shares of Galiano Gold to a “strong-buy” rating in a research note on Thursday, August 13th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Galiano Gold has an average rating of “Buy” and a consensus price target 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.