Galiano Gold (NYSEAMERICAN:GAU) Stock Price Down 7.5% – Here’s Why

Galiano Gold Inc. (NYSEAMERICAN:GAU) dropped 7.5% during mid-day trading on Monday . The company traded as low as $2.03 and last traded at $2.0350. 3,264,917 shares changed hands during mid-day trading, a decline of 4% from the average session volume of 3,394,663 shares. The stock had previously closed at $2.20.

Wall Street Analyst Weigh In

Separately, Freedom Capital raised Galiano Gold from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $4.25.

Galiano Gold Stock Down 8.0%

The firm’s 50-day moving average price is $2.35 and its two-hundred day moving average price is $2.60. The firm has a market capitalization of $528.95 million, a PE ratio of 20.15 and a beta of 0.78.

Hedge Funds Weigh In On Galiano Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its stake in Galiano Gold by 11.0% during the 4th quarter. Franklin Resources Inc. now owns 12,017,262 shares of the company’s stock valued at $30,557,000 after purchasing an additional 1,193,760 shares during the period. Bank of America Corp DE boosted its position in shares of Galiano Gold by 465.0% in the third quarter. Bank of America Corp DE now owns 7,551,829 shares of the company’s stock worth $16,539,000 after buying an additional 6,215,190 shares during the period. Arrowstreet Capital Limited Partnership grew 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 valued at $17,224,000 after buying an additional 672,133 shares in the last quarter. Aegis Financial Corp grew 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 valued at $14,504,000 after buying an additional 153,400 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Galiano Gold by 12.9% during the first quarter. Renaissance Technologies LLC now owns 5,006,653 shares of the company’s stock valued at $12,567,000 after buying an additional 573,000 shares during the period. 66.82% of the stock is currently owned by hedge funds and other institutional investors.

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.