Gamco Investors INC. ET AL lifted its stake in shares of Galiano Gold Inc. (NYSE:GAU) by 72.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,000 shares of the company’s stock after purchasing an additional 29,800 shares during the period. Gamco Investors INC. ET AL’s holdings in Galiano Gold were worth $98,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in GAU. Essex Investment Management Co. LLC purchased a new position in shares of Galiano Gold during the second quarter valued at $27,000. Raymond James Financial Services Advisors Inc. acquired a new position in Galiano Gold in the 2nd quarter valued at approximately $42,000. Banque Cantonale Vaudoise acquired a new position in Galiano Gold in the 2nd quarter valued at approximately $82,000. Virtu Financial LLC acquired a new position in Galiano Gold in the 2nd quarter valued at approximately $165,000. Finally, Bank of Montreal Can acquired a new position in Galiano Gold in the 2nd quarter valued at approximately $206,000. 34.18% of the stock is currently owned by institutional investors.
Several equities analysts have commented on the company. Scotiabank upped their price target on Galiano Gold from $2.25 to $2.50 and gave the company a “sector perform” rating in a report on Tuesday, October 13th. Desjardins initiated coverage on Galiano Gold in a report on Tuesday, September 8th. They issued a “buy” rating and a $3.25 price target for the company. Berenberg Bank dropped their target price on Galiano Gold from $3.00 to $2.70 and set a “buy” rating for the company in a report on Tuesday, November 10th. Zacks Investment Research cut Galiano Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 20th. Finally, HC Wainwright reissued a “buy” rating and issued a $3.40 target price on shares of Galiano Gold in a report on Tuesday, August 11th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $2.62.
NYSE GAU opened at $1.17 on Friday. The firm has a market cap of $262.35 million, a PE ratio of -2.05 and a beta of 0.91. Galiano Gold Inc. has a one year low of $0.56 and a one year high of $2.12. The stock’s 50 day simple moving average is $1.35 and its 200 day simple moving average is $1.41.
Galiano Gold (NYSE:GAU) last released its quarterly earnings results on Friday, November 6th. The company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.02). On average, research analysts anticipate that Galiano Gold Inc. will post 0.23 earnings per share for the current year.
About Galiano Gold
Galiano Gold Inc engages in the exploration, development, and production of gold properties. It operates and manages the Asanko Gold Mine, which is located in Ghana, West Africa. The company was formerly known as Asanko Gold Inc and changed its name to Galiano Gold Inc in May 2020. Galiano Gold Inc was incorporated in 1999 and is headquartered in Vancouver, Canada.
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