Galiano Gold (NYSEAMERICAN:GAU) Shares Gap Up – What’s Next?

Shares of Galiano Gold Inc. (NYSEAMERICAN:GAU) gapped up before the market opened on Wednesday . The stock had previously closed at $2.24, but opened at $2.39. Galiano Gold shares last traded at $2.3380, with a volume of 622,316 shares.

Analyst Upgrades and Downgrades

Several research analysts have commented on GAU shares. HC Wainwright lifted their price target on shares of Galiano Gold from $3.20 to $4.25 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Scotiabank reiterated 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 assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $4.25.

Galiano Gold Trading Up 3.8%

The stock has a 50 day simple moving average of $2.91 and a 200 day simple moving average of $2.63. The firm has a market capitalization of $604.01 million, a PE ratio of -19.37 and a beta of 0.82.

Institutional Investors Weigh In On Galiano Gold

Several institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings in Galiano Gold by 13.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 882,962 shares of the company’s stock worth $1,095,000 after acquiring an additional 106,685 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its stake in shares of Galiano Gold by 177.0% in the second quarter. Dynamic Technology Lab Private Ltd now owns 46,466 shares of the company’s stock worth $59,000 after purchasing an additional 29,690 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in Galiano Gold during the 2nd quarter valued at about $196,000. American Century Companies Inc. raised its position in Galiano Gold by 25.9% during the 2nd quarter. American Century Companies Inc. now owns 46,431 shares of the company’s stock valued at $59,000 after purchasing an additional 9,558 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in Galiano Gold in the 2nd quarter worth approximately $74,000. Hedge funds and other 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.