Zacks Research Upgrades Galiano Gold (NYSEAMERICAN:GAU) to Hold

Galiano Gold (NYSEAMERICAN:GAU) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other brokerages have also weighed in on GAU. Canaccord Genuity Group upgraded shares of Galiano Gold to a “strong-buy” rating in a report on Thursday, August 13th. Freedom Capital raised shares of Galiano Gold from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $4.25.

Galiano Gold Trading Up 1.7%

Shares of NYSEAMERICAN GAU opened at $2.41 on Wednesday. The stock has a market cap of $630.00 million, a price-to-earnings ratio of 9.27 and a beta of 0.86. Galiano Gold has a 1-year low of $1.66 and a 1-year high of $3.62. The stock’s 50-day moving average is $1.97 and its 200 day moving average is $2.35.

Galiano Gold (NYSEAMERICAN:GAU) last issued its earnings results on Thursday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). Galiano Gold had a return on equity of 35.34% and a net margin of 12.19%.The firm had revenue of $183.75 million during the quarter, compared to analysts’ expectations of $151.85 million. On average, analysts forecast that Galiano Gold will post 0.57 EPS for the current fiscal year.

Institutional Trading of Galiano Gold

Large investors have recently bought and sold shares of the company. Lazard Asset Management LLC bought a new stake in shares of Galiano Gold during the first quarter valued at approximately $1,931,000. Walleye Capital LLC raised its holdings in Galiano Gold by 5,413.7% in the 1st quarter. Walleye Capital LLC now owns 1,477,180 shares of the company’s stock worth $3,708,000 after acquiring an additional 1,450,389 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Galiano Gold by 10.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,872,117 shares of the company’s stock valued at $17,224,000 after acquiring an additional 672,133 shares in the last quarter. Bank of America Corp DE lifted its position in Galiano Gold by 14.9% in the 1st quarter. Bank of America Corp DE now owns 3,907,638 shares of the company’s stock valued at $9,808,000 after acquiring an additional 507,621 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Galiano Gold by 12.9% during the 1st quarter. Renaissance Technologies LLC now owns 5,006,653 shares of the company’s stock valued at $12,567,000 after purchasing an additional 573,000 shares during the last quarter. 66.82% of the stock is owned by institutional investors.

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.