Galiano Gold (NYSEAMERICAN:GAU) Shares Down 5.7% – Should You Sell?

Galiano Gold Inc. (NYSEAMERICAN:GAU) was down 5.7% on Friday . The company traded as low as $2.73 and last traded at $2.7450. Approximately 1,269,020 shares traded hands during trading, a decline of 65% from the average daily volume of 3,640,085 shares. The stock had previously closed at $2.91.

Analyst Ratings Changes

Several analysts have issued reports on GAU shares. HC Wainwright upped their price objective on Galiano Gold from $3.20 to $4.25 and gave the company a “buy” rating in a research note on Thursday, February 19th. Scotiabank reiterated a “sector perform” rating on shares of Galiano Gold in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Galiano Gold presently has an average rating of “Moderate Buy” and a consensus price target of $4.25.

Galiano Gold Stock Down 11.2%

The firm’s 50 day simple moving average is $2.95 and its two-hundred day simple moving average is $2.62. The firm has a market cap of $671.56 million, a price-to-earnings ratio of -21.54 and a beta of 0.82. The company has a current ratio of 0.92, a quick ratio of 0.60 and a debt-to-equity ratio of 0.07.

Institutional Investors Weigh In On Galiano Gold

A number of large investors have recently added to or reduced their stakes in GAU. Goldman Sachs Group Inc. raised its holdings in Galiano Gold by 13.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 882,962 shares of the company’s stock valued at $1,095,000 after acquiring an additional 106,685 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Galiano Gold by 543.0% during the 2nd quarter. Bank of Montreal Can now owns 1,083,699 shares of the company’s stock worth $1,378,000 after purchasing an additional 915,154 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Galiano Gold by 7.2% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,079,224 shares of the company’s stock worth $1,372,000 after purchasing an additional 72,900 shares during the period. SBI Securities Co. Ltd. raised its stake in Galiano Gold by 939.4% in the second quarter. SBI Securities Co. Ltd. now owns 25,009 shares of the company’s stock valued at $32,000 after purchasing an additional 22,603 shares in the last quarter. Finally, Aegis Financial Corp raised its stake in Galiano Gold by 162.5% in the second quarter. Aegis Financial Corp now owns 6,505,921 shares of the company’s stock valued at $8,250,000 after purchasing an additional 4,027,090 shares in the last quarter. Institutional investors and hedge funds 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.