Galiano Gold (NYSEAMERICAN:GAU) Shares Gap Up – Here’s Why

Galiano Gold Inc. (NYSEAMERICAN:GAU)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $2.73, but opened at $2.90. Galiano Gold shares last traded at $3.0560, with a volume of 1,386,042 shares trading hands.

Wall Street Analyst Weigh In

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

Galiano Gold Price Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 0.98. The stock’s 50-day moving average is $2.72 and its two-hundred day moving average is $2.43. The stock has a market cap of $784.57 million, a PE ratio of -25.16 and a beta of 0.87.

Hedge Funds Weigh In On Galiano Gold

Institutional investors have recently bought and sold shares of the company. Aegis Financial Corp increased its position in shares of Galiano Gold by 162.5% during the second quarter. Aegis Financial Corp now owns 6,505,921 shares of the company’s stock worth $8,250,000 after acquiring an additional 4,027,090 shares during the period. Quadrature Capital Ltd acquired a new position in Galiano Gold during the 2nd quarter worth $568,000. Pale Fire Capital SE grew its stake in Galiano Gold by 67.2% during the 2nd quarter. Pale Fire Capital SE now owns 6,011,627 shares of the company’s stock worth $7,635,000 after purchasing an additional 2,415,530 shares in the last quarter. Bank of Montreal Can increased its holdings in Galiano Gold by 543.0% during the 2nd quarter. Bank of Montreal Can now owns 1,083,699 shares of the company’s stock worth $1,378,000 after purchasing an additional 915,154 shares during the period. Finally, Dynamic Technology Lab Private Ltd raised its position in Galiano Gold by 177.0% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 46,466 shares of the company’s stock valued at $59,000 after purchasing an additional 29,690 shares in the last quarter. 66.82% of the stock is owned by institutional investors and hedge funds.

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.