Lazard Asset Management LLC Buys Shares of 769,355 Galiano Gold Inc. $GAU

Lazard Asset Management LLC bought a new stake in shares of Galiano Gold Inc. (NYSEAMERICAN:GAU) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 769,355 shares of the company’s stock, valued at approximately $1,931,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Goldman Sachs Group Inc. lifted its holdings in shares of Galiano Gold by 13.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 882,962 shares of the company’s stock worth $1,095,000 after purchasing an additional 106,685 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in Galiano Gold in the second quarter worth $196,000. American Century Companies Inc. increased 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 worth $59,000 after buying an additional 9,558 shares during the period. XTX Topco Ltd bought a new stake in Galiano Gold in the second quarter valued at $74,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Galiano Gold in the second quarter valued at $185,000. 66.82% of the stock is currently owned by institutional investors and hedge funds.

Galiano Gold Stock Performance

GAU opened at $1.77 on Tuesday. The company has a market capitalization of $462.54 million, a PE ratio of 17.70 and a beta of 0.86. The stock’s fifty day moving average is $1.97 and its 200-day moving average is $2.44. Galiano Gold Inc. has a one year low of $1.38 and a one year high of $3.62.

Wall Street Analyst Weigh In

GAU has been the subject of several analyst reports. Zacks Research downgraded shares of Galiano Gold from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Freedom Capital raised shares of Galiano Gold from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.