Galiano Gold (NYSEAMERICAN:GAU) Hits New 12-Month High – Time to Buy?

Galiano Gold Inc. (NYSEAMERICAN:GAU) reached a new 52-week high on Friday . The company traded as high as $3.12 and last traded at $3.0750, with a volume of 788241 shares. The stock had previously closed at $3.07.

Wall Street Analyst Weigh In

Separately, Scotiabank upgraded shares of Galiano Gold to a “hold” rating in a report on Friday, November 28th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Galiano Gold has an average rating of “Hold” and a consensus price target of $3.20.

Galiano Gold Price Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 0.98 and a quick ratio of 0.70. The stock has a 50 day moving average price of $2.54 and a two-hundred day moving average price of $2.28. The firm has a market capitalization of $802.75 million, a price-to-earnings ratio of -17.17 and a beta of 0.86.

Institutional Trading of Galiano Gold

A number of institutional investors and hedge funds have recently bought and sold shares of GAU. Franklin Resources Inc. boosted its stake in shares of Galiano Gold by 44.5% in the third quarter. Franklin Resources Inc. now owns 10,823,502 shares of the company’s stock valued at $23,560,000 after purchasing an additional 3,331,240 shares during the period. Bank of America Corp DE increased its stake in Galiano Gold by 465.0% during the 3rd quarter. Bank of America Corp DE now owns 7,551,829 shares of the company’s stock worth $16,539,000 after buying an additional 6,215,190 shares during the period. Aegis Financial Corp lifted its holdings in Galiano Gold by 2.4% during the 3rd quarter. Aegis Financial Corp now owns 6,659,321 shares of the company’s stock worth $14,504,000 after buying an additional 153,400 shares in the last quarter. Pale Fire Capital SE boosted its position in Galiano Gold by 67.2% in the 2nd quarter. Pale Fire Capital SE now owns 6,011,627 shares of the company’s stock valued at $7,635,000 after buying an additional 2,415,530 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new position in Galiano Gold in the 3rd quarter valued at approximately $11,515,000. 66.82% of the stock is currently owned by hedge funds and other institutional investors.

About Galiano Gold

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.