Galiano Gold (NYSEAMERICAN:GAU) Stock Price Down 5.7% – Here’s Why

Galiano Gold Inc. (NYSEAMERICAN:GAU)’s share price was down 5.7% during trading on Friday . The company traded as low as $2.73 and last traded at $2.7450. Approximately 1,269,020 shares changed hands during trading, a decline of 65% from the average daily volume of 3,640,085 shares. The stock had previously closed at $2.91.

Wall Street Analyst Weigh In

Several analysts have recently commented on GAU shares. Scotiabank restated a “sector perform” rating on shares of Galiano Gold in a research note on Monday, January 26th. HC Wainwright increased their price target on shares of Galiano Gold from $3.20 to $4.25 and gave the stock a “buy” rating in a report on Thursday, February 19th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Galiano Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.25.

Galiano Gold Stock Performance

The stock’s 50 day moving average price is $2.95 and its two-hundred day moving average price is $2.62. The company has a current ratio of 0.92, a quick ratio of 0.60 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $665.06 million, a price-to-earnings ratio of -21.33 and a beta of 0.82.

Institutional Investors Weigh In On Galiano Gold

A number of institutional investors and hedge funds have recently modified their holdings of the company. Sprott Inc. boosted its position in Galiano Gold by 13.7% during the third quarter. Sprott Inc. now owns 59,862 shares of the company’s stock worth $131,000 after purchasing an additional 7,200 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Galiano Gold by 25.9% in the 2nd quarter. American Century Companies Inc. now owns 46,431 shares of the company’s stock worth $59,000 after buying an additional 9,558 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Galiano Gold in the 3rd quarter valued at about $28,000. Mariner LLC acquired a new stake in Galiano Gold in the 4th quarter valued at about $38,000. Finally, JPMorgan Chase & Co. increased its holdings in Galiano Gold by 10.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 169,962 shares of the company’s stock valued at $372,000 after acquiring an additional 16,006 shares in the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

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.