Scotiabank Upgrades Galiano Gold (NYSEAMERICAN:GAU) to “Hold”

Galiano Gold (NYSEAMERICAN:GAU) was upgraded by equities researchers at Scotiabank to a “hold” rating in a research note issued on Friday,Zacks.com reports.

Separately, HC Wainwright lifted their price target on shares of Galiano Gold from $2.80 to $3.20 and gave the stock a “buy” rating in a research note on Thursday, August 14th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $3.20.

Galiano Gold Stock Performance

GAU stock opened at $2.43 on Friday. Galiano Gold has a 52-week low of $1.00 and a 52-week high of $3.12. The firm has a market capitalization of $629.05 million, a price-to-earnings ratio of -80.97 and a beta of 0.65. The firm has a 50 day moving average price of $2.43 and a 200-day moving average price of $1.93.

Institutional Investors Weigh In On Galiano Gold

A number of large investors have recently made changes to their positions in GAU. Sprott Inc. increased its position in shares of Galiano Gold by 13.7% during the third quarter. Sprott Inc. now owns 59,862 shares of the company’s stock valued at $131,000 after acquiring an additional 7,200 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Galiano Gold by 25.9% during the 2nd quarter. American Century Companies Inc. now owns 46,431 shares of the company’s stock worth $59,000 after purchasing an additional 9,558 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Galiano Gold during the 3rd quarter worth approximately $28,000. JPMorgan Chase & Co. increased its holdings in Galiano Gold by 10.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 169,962 shares of the company’s stock valued at $372,000 after purchasing an additional 16,006 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its position in Galiano Gold by 939.4% in the second quarter. SBI Securities Co. Ltd. now owns 25,009 shares of the company’s stock valued at $32,000 after purchasing an additional 22,603 shares during the period. 66.82% of the stock is currently owned by hedge funds and other institutional investors.

About Galiano Gold

Galiano Gold Inc engages in the exploration and evaluation of gold properties in Canada. Its flagship asset is the Asanko Gold Mine that covers an area of approximately 21,000 hectares 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.