Galiano Gold (NYSEAMERICAN:GAU) Shares Up 6.2% – Should You Buy?

Shares of Galiano Gold Inc. (NYSEAMERICAN:GAU) rose 6.2% during trading on Wednesday . The stock traded as high as $1.9650 and last traded at $1.9650. Approximately 562,042 shares were traded during mid-day trading, a decline of 83% from the average session volume of 3,366,669 shares. The stock had previously closed at $1.85.

Analysts Set New Price Targets

Separately, Freedom Capital upgraded 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 issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Galiano Gold presently has an average rating of “Buy” and an average price target of $4.25.

Galiano Gold Stock Performance

The stock’s 50 day moving average is $2.04 and its 200 day moving average is $2.49. The company has a market capitalization of $480.83 million, a PE ratio of 18.40 and a beta of 0.84.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GAU. Raymond James Financial Inc. bought a new position in shares of Galiano Gold during the 3rd quarter valued at $28,000. Mariner LLC bought a new stake in Galiano Gold in the fourth quarter worth $38,000. Allworth Financial LP purchased a new stake in Galiano Gold during the third quarter valued at about $51,000. Caitong International Asset Management Co. Ltd purchased a new stake in Galiano Gold during the fourth quarter valued at about $55,000. Finally, Russell Investments Group Ltd. purchased a new stake in Galiano Gold during the fourth quarter valued at about $55,000. Institutional investors own 66.82% of the company’s stock.

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.