Galiano Gold Inc. $GAU Shares Acquired by Pale Fire Capital SE

Pale Fire Capital SE increased its stake in Galiano Gold Inc. (NYSEAMERICAN:GAU) by 25.9% in the second quarter, HoldingsChannel.com reports. The firm owned 5,036,654 shares of the company’s stock after acquiring an additional 1,036,654 shares during the quarter. Galiano Gold accounts for 0.3% of Pale Fire Capital SE’s portfolio, making the stock its 20th largest position. Pale Fire Capital SE’s holdings in Galiano Gold were worth $9,419,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Galiano Gold in the third quarter valued at approximately $28,000. Mariner LLC purchased a new position in Galiano Gold in the 4th quarter worth approximately $38,000. Two Sigma Securities LLC boosted its holdings in Galiano Gold by 65.4% in the second quarter. Two Sigma Securities LLC now owns 24,862 shares of the company’s stock valued at $46,000 after purchasing an additional 9,828 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Galiano Gold during the 4th quarter valued at $55,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of Galiano Gold in the 4th quarter worth approximately $55,000. 66.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Canaccord Genuity Group upgraded Galiano Gold to a “strong-buy” rating in a research report on Thursday, August 13th. Zacks Research upgraded Galiano Gold from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 26th. Finally, Freedom Capital upgraded 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 assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Galiano Gold presently has a consensus rating of “Buy” and an average price target of $4.25.

Galiano Gold Stock Performance

GAU opened at $2.26 on Thursday. The firm has a market capitalization of $591.06 million, a PE ratio of 8.69 and a beta of 0.92. The company has a fifty day moving average price of $1.99 and a two-hundred day moving average price of $2.33. Galiano Gold Inc. has a 52 week low of $1.66 and a 52 week high of $3.62.

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

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.