Galiano Gold (NYSEAMERICAN:GAU) Shares Down 9.1% – Here’s Why

Shares of Galiano Gold Inc. (NYSEAMERICAN:GAU) traded down 9.1% on Friday . The company traded as low as $2.80 and last traded at $2.8440. 435,805 shares traded hands during trading, a decline of 85% from the average session volume of 2,993,197 shares. The stock had previously closed at $3.13.

Analysts Set New Price Targets

Separately, Scotiabank reiterated a “sector perform” rating on shares of Galiano Gold in a report on Monday, January 26th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $3.20.

Galiano Gold Stock Down 15.0%

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 market cap of $691.04 million, a price-to-earnings ratio of -14.78 and a beta of 0.86. The firm has a 50 day simple moving average of $2.63 and a two-hundred day simple moving average of $2.33.

Institutional Trading of Galiano Gold

Large investors have recently made changes to their positions in the company. Franklin Resources Inc. lifted its holdings in shares of Galiano Gold by 44.5% during the 3rd 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 in the last quarter. Bank of America Corp DE raised its holdings 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 stake in Galiano Gold by 2.4% in the third quarter. Aegis Financial Corp now owns 6,659,321 shares of the company’s stock valued at $14,504,000 after buying an additional 153,400 shares in the last quarter. Pale Fire Capital SE boosted its holdings in shares of Galiano Gold by 67.2% in the second 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. bought a new stake in shares of Galiano Gold during the third quarter worth $11,515,000. Institutional investors 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.