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

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

Wall Street Analysts Forecast Growth

Separately, Scotiabank upgraded 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $3.20.

Galiano Gold Stock Up 5.4%

The company has a quick ratio of 0.70, a current ratio of 0.98 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $687.14 million, a PE ratio of -14.69 and a beta of 0.85. The business has a 50-day moving average price of $2.40 and a 200-day moving average price of $2.09.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in shares of Galiano Gold in the third quarter valued at about $28,000. SBI Securities Co. Ltd. lifted its holdings in Galiano Gold by 939.4% in the second quarter. SBI Securities Co. Ltd. now owns 25,009 shares of the company’s stock valued at $32,000 after acquiring an additional 22,603 shares during the last quarter. Allworth Financial LP acquired a new stake in Galiano Gold during the third quarter worth $51,000. Dynamic Technology Lab Private Ltd increased its stake in Galiano Gold by 177.0% during the second 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 during the last quarter. Finally, American Century Companies Inc. raised its position in Galiano Gold by 25.9% in the second quarter. American Century Companies Inc. now owns 46,431 shares of the company’s stock valued at $59,000 after purchasing an additional 9,558 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.