Royal Bank of Canada Trims Stock Position in Galiano Gold Inc. $GAU

Royal Bank of Canada trimmed its holdings in Galiano Gold Inc. (NYSEAMERICAN:GAU) by 91.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 43,532 shares of the company’s stock after selling 440,590 shares during the period. Royal Bank of Canada’s holdings in Galiano Gold were worth $109,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GAU. Lazard Asset Management LLC purchased a new position in shares of Galiano Gold during the 1st quarter worth about $1,931,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Galiano Gold during the first quarter worth approximately $139,000. Renaissance Technologies LLC boosted its holdings in shares of Galiano Gold by 12.9% in the 1st quarter. Renaissance Technologies LLC now owns 5,006,653 shares of the company’s stock valued at $12,567,000 after purchasing an additional 573,000 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Galiano Gold by 107.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 431,034 shares of the company’s stock valued at $1,075,000 after buying an additional 223,604 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Galiano Gold by 10.8% during the 1st 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 during the period. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Analysts Set New Price Targets

GAU has been the topic of several research reports. Canaccord Genuity Group raised Galiano Gold to a “strong-buy” rating in a research report on Thursday, August 13th. Zacks Research raised Galiano Gold from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 26th. Finally, Freedom Capital upgraded Galiano Gold from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $4.25.

Galiano Gold Stock Performance

Shares of NYSEAMERICAN:GAU opened at $2.26 on Tuesday. The business’s 50-day simple moving average is $1.97 and its 200 day simple moving average is $2.35. The company has a market cap of $590.79 million, a P/E ratio of 8.69 and a beta of 0.86. Galiano Gold Inc. has a one year low of $1.66 and a one year 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 for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). Galiano Gold had a return on equity of 35.34% and a net margin of 12.19%.The company had revenue of $183.75 million during the quarter, compared to analysts’ expectations of $151.85 million. Analysts predict that Galiano Gold Inc. will post 0.57 earnings per share for the current year.

Galiano Gold 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.