Galiano Gold (NYSEAMERICAN:GAU) Rating Increased to Strong-Buy at Freedom Capital

Freedom Capital upgraded shares of Galiano Gold (NYSEAMERICAN:GAU) from a hold rating to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

Several other brokerages have also recently commented on GAU. HC Wainwright raised their target price on Galiano Gold from $3.20 to $4.25 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Scotiabank reaffirmed a “sector perform” rating on shares of Galiano Gold in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Galiano Gold has an average rating of “Buy” and an average target price of $4.25.

Galiano Gold Stock Up 0.9%

Shares of Galiano Gold stock opened at $2.27 on Tuesday. The stock has a market cap of $592.81 million, a PE ratio of 22.70 and a beta of 0.80. The business has a fifty day simple moving average of $2.49 and a 200-day simple moving average of $2.61. Galiano Gold has a 12 month low of $1.22 and a 12 month high of $3.62.

Institutional Trading of Galiano Gold

Several hedge funds and other institutional investors have recently modified their holdings of the business. Franklin Resources Inc. boosted its position in shares of Galiano Gold by 11.0% in the fourth quarter. Franklin Resources Inc. now owns 12,017,262 shares of the company’s stock worth $30,557,000 after buying an additional 1,193,760 shares during the period. Bank of America Corp DE raised its holdings in shares of Galiano Gold by 465.0% during the third quarter. Bank of America Corp DE now owns 7,551,829 shares of the company’s stock worth $16,539,000 after acquiring an additional 6,215,190 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Galiano Gold by 10.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 6,872,117 shares of the company’s stock worth $17,224,000 after acquiring an additional 672,133 shares in the last quarter. Aegis Financial Corp raised its holdings in shares of Galiano Gold by 2.4% during the third quarter. Aegis Financial Corp now owns 6,659,321 shares of the company’s stock worth $14,504,000 after acquiring an additional 153,400 shares in the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of Galiano Gold during the third quarter worth $11,515,000. 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.