Galiano Gold (NYSEMKT:GAU) Shares Up 15.3%

Galiano Gold Inc. (NYSEMKT:GAUGet Rating)’s stock price shot up 15.3% on Tuesday . The company traded as high as $0.42 and last traded at $0.42. 289,530 shares changed hands during mid-day trading, a decline of 2% from the average session volume of 295,004 shares. The stock had previously closed at $0.36.

Several research firms have recently commented on GAU. Berenberg Bank upped their price target on shares of Galiano Gold from $0.50 to $0.67 in a research report on Thursday, April 7th. Cormark reduced their price target on shares of Galiano Gold from $1.00 to $0.80 in a research report on Thursday, March 31st. HC Wainwright reduced their price target on shares of Galiano Gold from $2.80 to $2.20 and set a “buy” rating for the company in a research report on Thursday, March 31st. BMO Capital Markets lowered shares of Galiano Gold from a “market perform” rating to an “underperform” rating in a research report on Monday, April 11th. Finally, Scotiabank reduced their price target on shares of Galiano Gold from $1.75 to $0.75 in a research report on Thursday, March 31st.

The business has a 50-day moving average price of $0.44 and a 200 day moving average price of $0.59. The stock has a market capitalization of $93.35 million, a P/E ratio of -1.12 and a beta of 0.92.

Galiano Gold (NYSEMKT:GAUGet Rating) last released its earnings results on Tuesday, March 29th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.42). On average, equities analysts forecast that Galiano Gold Inc. will post 0.03 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. Donald Smith & CO. Inc. boosted its position in Galiano Gold by 0.9% during the first quarter. Donald Smith & CO. Inc. now owns 9,653,051 shares of the company’s stock valued at $5,336,000 after purchasing an additional 87,473 shares in the last quarter. Renaissance Technologies LLC boosted its position in Galiano Gold by 1.0% during the fourth quarter. Renaissance Technologies LLC now owns 2,872,181 shares of the company’s stock valued at $2,010,000 after purchasing an additional 28,174 shares in the last quarter. Morgan Stanley boosted its position in Galiano Gold by 36.0% during the third quarter. Morgan Stanley now owns 823,846 shares of the company’s stock valued at $593,000 after purchasing an additional 218,199 shares in the last quarter. Millennium Management LLC bought a new stake in Galiano Gold during the third quarter valued at about $196,000. Finally, Jane Street Group LLC boosted its position in Galiano Gold by 498.2% during the third quarter. Jane Street Group LLC now owns 149,695 shares of the company’s stock valued at $108,000 after purchasing an additional 124,669 shares in the last quarter. Hedge funds and other institutional investors own 49.27% of the company’s stock.

About Galiano Gold (NYSEMKT:GAU)

Galiano Gold Inc engages in the exploration, development, and production of gold properties. The company's primary asset is the Asanko Gold Mine 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. Galiano Gold Inc was incorporated in 1999 and is headquartered in Vancouver, Canada.

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