Connor Clark & Lunn Investment Management Ltd. Purchases 72,900 Shares of Galiano Gold Inc. $GAU

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Galiano Gold Inc. (NYSEAMERICAN:GAU) by 7.2% during the 2nd quarter, Holdings Channel reports. The firm owned 1,079,224 shares of the company’s stock after purchasing an additional 72,900 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Galiano Gold were worth $1,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the company. Sprott Inc. grew its holdings in Galiano Gold by 55.9% during the first quarter. Sprott Inc. now owns 49,362 shares of the company’s stock worth $61,000 after purchasing an additional 17,700 shares during the period. Goldman Sachs Group Inc. raised its stake in Galiano Gold by 13.7% in the first quarter. Goldman Sachs Group Inc. now owns 882,962 shares of the company’s stock valued at $1,095,000 after buying an additional 106,685 shares during the period. Bank of Montreal Can lifted its position in shares of Galiano Gold by 543.0% in the second quarter. Bank of Montreal Can now owns 1,083,699 shares of the company’s stock valued at $1,378,000 after buying an additional 915,154 shares during the last quarter. Aegis Financial Corp boosted its stake in shares of Galiano Gold by 3.6% during the 1st quarter. Aegis Financial Corp now owns 2,478,831 shares of the company’s stock worth $3,049,000 after acquiring an additional 86,532 shares during the period. Finally, Pale Fire Capital SE acquired a new position in shares of Galiano Gold during the 1st quarter worth approximately $4,459,000. 66.82% of the stock is currently owned by institutional investors and hedge funds.

Galiano Gold Stock Down 1.4%

Shares of Galiano Gold stock opened at $2.15 on Tuesday. Galiano Gold Inc. has a twelve month low of $1.00 and a twelve month high of $3.12. The company has a 50-day simple moving average of $2.48 and a two-hundred day simple moving average of $1.89. The stock has a market capitalization of $556.57 million, a price-to-earnings ratio of -71.64 and a beta of 0.65.

Wall Street Analyst Weigh In

Separately, HC Wainwright raised their price target on Galiano Gold from $2.80 to $3.20 and gave the company a “buy” rating in a report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $3.20.

Galiano Gold Company Profile

Galiano Gold Inc engages in the exploration and evaluation of gold properties in Canada. Its flagship asset is the Asanko Gold Mine that covers an area of approximately 21,000 hectares 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.