Donald Smith & CO. Inc. Has $58.08 Million Position in Galiano Gold Inc. $GAU

Donald Smith & CO. Inc. cut its position in shares of Galiano Gold Inc. (NYSEAMERICAN:GAU) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,956,283 shares of the company’s stock after selling 1,159,642 shares during the period. Donald Smith & CO. Inc. owned 0.09% of Galiano Gold worth $58,079,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. U S Global Investors Inc. acquired a new position in shares of Galiano Gold during the 4th quarter worth about $5,548,000. Forge First Asset Management Inc. acquired a new position in shares of Galiano Gold during the 3rd quarter worth about $2,177,000. Quantbot Technologies LP acquired a new position in shares of Galiano Gold during the 3rd quarter worth about $734,000. Polunin Capital Partners Ltd acquired a new position in shares of Galiano Gold during the 4th quarter worth about $5,171,000. Finally, MMCAP International Inc. SPC acquired a new position in shares of Galiano Gold during the 3rd quarter worth about $544,000. 66.82% of the stock is currently owned by institutional investors and hedge funds.

Galiano Gold Stock Down 5.4%

NYSEAMERICAN GAU opened at $1.94 on Thursday. The company has a market capitalization of $506.75 million, a P/E ratio of 19.40 and a beta of 0.78. Galiano Gold Inc. has a 12-month low of $1.22 and a 12-month high of $3.62. The firm has a 50-day moving average price of $2.40 and a two-hundred day moving average price of $2.60.

Wall Street Analyst Weigh In

GAU has been the topic of several recent analyst reports. HC Wainwright boosted their price objective 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. Freedom Capital upgraded shares of Galiano Gold from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $4.25.

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.