Galiano Gold (NYSEAMERICAN:GAU) Shares Up 6.2% – Still a Buy?

Galiano Gold Inc. (NYSEAMERICAN:GAU) was up 6.2% on Wednesday . The stock traded as high as $1.9650 and last traded at $1.9650. 562,042 shares changed hands during trading, a decline of 83% from the average daily volume of 3,366,669 shares. The stock had previously closed at $1.85.

Analyst Ratings Changes

Separately, Freedom Capital raised Galiano Gold from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $4.25.

Galiano Gold Price Performance

The company has a market cap of $518.72 million, a PE ratio of 19.95 and a beta of 0.84. The business’s 50 day moving average is $2.07 and its 200-day moving average is $2.50.

Institutional Investors Weigh In On Galiano Gold

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

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.