Galiano Gold (NYSEAMERICAN:GAU) Stock Price Down 3.5% – Here’s Why
by Doug Wharley · The Cerbat GemGaliano Gold Inc. (NYSEAMERICAN:GAU – Get Free Report) was down 3.5% during mid-day trading on Wednesday . The stock traded as low as $2.61 and last traded at $2.6150. Approximately 155,352 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 1,861,932 shares. The stock had previously closed at $2.71.
Analysts Set New Price Targets
Separately, Scotiabank raised shares of Galiano Gold to a “hold” rating in a research report on Friday, November 28th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $3.20.
Read Our Latest Stock Report on GAU
Galiano Gold Stock Performance
The stock’s 50-day moving average price is $2.43 and its 200 day moving average price is $2.06. The firm has a market cap of $681.95 million, a P/E ratio of -14.58 and a beta of 0.85. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.98 and a quick ratio of 0.70.
Institutional Trading of Galiano Gold
A number of hedge funds and other institutional investors have recently modified their holdings of GAU. Bank of America Corp DE raised its holdings in Galiano Gold by 465.0% during the third quarter. Bank of America Corp DE now owns 7,551,829 shares of the company’s stock worth $16,539,000 after acquiring an additional 6,215,190 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Galiano Gold during the 3rd quarter worth approximately $11,515,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Galiano Gold by 3,458.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,166,956 shares of the company’s stock worth $11,291,000 after purchasing an additional 5,021,749 shares in the last quarter. Aegis Financial Corp raised its stake in shares of Galiano Gold by 162.5% during the 2nd quarter. Aegis Financial Corp now owns 6,505,921 shares of the company’s stock worth $8,250,000 after purchasing an additional 4,027,090 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Galiano Gold by 7,622.3% in the 3rd quarter. Millennium Management LLC now owns 3,885,011 shares of the company’s stock valued at $8,491,000 after buying an additional 3,834,702 shares during the last quarter. Institutional investors and hedge funds 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.