HC Wainwright Increases Galiano Gold (NYSEAMERICAN:GAU) Price Target to $2.20

Galiano Gold (NYSEAMERICAN:GAU) had its price target raised by research analysts at HC Wainwright from $2.10 to $2.20 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 274.15% from the stock’s previous close. HC Wainwright also issued estimates for Galiano Gold’s FY2023 earnings at $0.18 EPS.

Galiano Gold Price Performance

Shares of NYSEAMERICAN:GAU opened at $0.59 on Thursday. Galiano Gold has a 1 year low of $0.42 and a 1 year high of $0.74. The firm has a market capitalization of $132.26 million, a price-to-earnings ratio of 2.27 and a beta of 0.92. The business’s 50 day moving average price is $0.59 and its 200-day moving average price is $0.60.

Institutional Trading of Galiano Gold

A number of hedge funds and other institutional investors have recently modified their holdings of GAU. Franklin Resources Inc. increased its position in shares of Galiano Gold by 2.6% during the 1st quarter. Franklin Resources Inc. now owns 12,857,262 shares of the company’s stock worth $7,515,000 after purchasing an additional 322,500 shares during the last quarter. Donald Smith & CO. Inc. boosted its holdings in Galiano Gold by 4.0% during the 1st quarter. Donald Smith & CO. Inc. now owns 12,603,919 shares of the company’s stock valued at $7,352,000 after acquiring an additional 481,804 shares during the period. Equinox Partners Investment Management LLC boosted its holdings in Galiano Gold by 13.1% during the 2nd quarter. Equinox Partners Investment Management LLC now owns 7,057,337 shares of the company’s stock valued at $4,264,000 after acquiring an additional 816,754 shares during the period. Renaissance Technologies LLC boosted its holdings in Galiano Gold by 9.2% during the 2nd quarter. Renaissance Technologies LLC now owns 2,984,577 shares of the company’s stock valued at $1,761,000 after acquiring an additional 250,624 shares during the period. Finally, Millennium Management LLC boosted its holdings in Galiano Gold by 937.8% during the 4th quarter. Millennium Management LLC now owns 1,128,294 shares of the company’s stock valued at $587,000 after acquiring an additional 1,019,576 shares during the period. 47.46% of the stock is owned by institutional investors and hedge funds.

Galiano Gold Company Profile

Galiano Gold Inc engages in the exploration, development, and production of gold properties. The company's primary asset is the Asanko Gold Mine 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.