Galiano Gold’s (GAU) “Buy” Rating Reaffirmed at HC Wainwright

Galiano Gold (NYSEAMERICAN:GAU)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research note issued to investors on Thursday, MarketBeat reports. They currently have a $3.20 target price on the stock, up from their prior target price of $2.80. HC Wainwright’s target price suggests a potential upside of 64.95% from the company’s previous close.

Galiano Gold Stock Performance

Shares of Galiano Gold stock opened at $1.94 on Thursday. The firm has a market cap of $501.26 million, a PE ratio of -64.65 and a beta of 0.57. The firm’s 50-day simple moving average is $1.42 and its 200-day simple moving average is $1.32. Galiano Gold has a 1 year low of $1.00 and a 1 year high of $1.94.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. American Century Companies Inc. boosted its holdings in shares of Galiano Gold by 25.9% in the second quarter. American Century Companies Inc. now owns 46,431 shares of the company’s stock valued at $59,000 after acquiring an additional 9,558 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Galiano Gold by 11.4% in the fourth quarter. Two Sigma Advisers LP now owns 155,800 shares of the company’s stock valued at $192,000 after acquiring an additional 16,000 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Galiano Gold by 0.6% during the fourth quarter. Renaissance Technologies LLC now owns 2,741,253 shares of the company’s stock worth $3,372,000 after buying an additional 16,677 shares in the last quarter. Sprott Inc. boosted 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 buying an additional 17,700 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its holdings in Galiano Gold by 939.4% during the second quarter. SBI Securities Co. Ltd. now owns 25,009 shares of the company’s stock worth $32,000 after buying an additional 22,603 shares in the last quarter. Institutional investors own 66.82% of the company’s stock.

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.