Renaissance Technologies LLC Purchases 573,000 Shares of Galiano Gold Inc. $GAU

Renaissance Technologies LLC raised its holdings in Galiano Gold Inc. (NYSEAMERICAN:GAU) by 12.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,006,653 shares of the company’s stock after acquiring an additional 573,000 shares during the period. Renaissance Technologies LLC’s holdings in Galiano Gold were worth $12,567,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GAU. Raymond James Financial Inc. purchased a new position in shares of Galiano Gold during the 3rd quarter valued at about $28,000. Mariner LLC bought a new position in shares of Galiano Gold during the fourth quarter valued at about $38,000. Caitong International Asset Management Co. Ltd bought a new position in Galiano Gold during the 4th quarter valued at approximately $55,000. Russell Investments Group Ltd. bought a new position in shares of Galiano Gold during the fourth quarter valued at approximately $55,000. Finally, American Century Companies Inc. lifted its position in shares of Galiano Gold by 25.9% in the 2nd quarter. American Century Companies Inc. now owns 46,431 shares of the company’s stock worth $59,000 after purchasing an additional 9,558 shares during the period. Institutional investors own 66.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GAU. Freedom Capital upgraded Galiano Gold from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Zacks Research lowered shares of Galiano Gold from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.25.

Galiano Gold Trading Down 2.8%

Shares of NYSEAMERICAN GAU opened at $1.74 on Friday. The firm has a 50 day moving average of $1.98 and a 200 day moving average of $2.46. The firm has a market capitalization of $454.70 million, a price-to-earnings ratio of 17.40 and a beta of 0.84. Galiano Gold Inc. has a 12-month low of $1.30 and a 12-month high of $3.62.

Galiano Gold 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.