Galiano Gold (NYSEAMERICAN:GAU) Shares Gap Up – Here’s Why

Galiano Gold Inc. (NYSEAMERICAN:GAU) gapped up prior to trading on Friday . The stock had previously closed at $2.73, but opened at $2.90. Galiano Gold shares last traded at $3.0560, with a volume of 1,386,042 shares trading hands.

Wall Street Analyst Weigh In

Separately, Scotiabank reissued a “sector perform” rating on shares of Galiano Gold in a research note on Monday, January 26th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $3.20.

Galiano Gold Trading Up 11.5%

The company has a current ratio of 0.98, a quick ratio of 0.70 and a debt-to-equity ratio of 0.07. The company has a market cap of $791.06 million, a PE ratio of -16.92 and a beta of 0.87. The company has a fifty day simple moving average of $2.70 and a two-hundred day simple moving average of $2.41.

Institutional Investors Weigh In On Galiano Gold

Large investors have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of Galiano Gold during the 3rd quarter worth $28,000. Caitong International Asset Management Co. Ltd purchased a new stake in Galiano Gold during the 4th quarter worth about $58,000. Allworth Financial LP acquired a new position in shares of Galiano Gold during the 3rd quarter worth about $51,000. SBI Securities Co. Ltd. increased its holdings in shares of Galiano Gold by 939.4% in the 2nd quarter. SBI Securities Co. Ltd. now owns 25,009 shares of the company’s stock valued at $32,000 after acquiring an additional 22,603 shares during the last quarter. Finally, Mirabella Financial Services LLP acquired a new stake in shares of Galiano Gold during the 3rd quarter worth about $60,000. 66.82% of the stock is owned by hedge funds and other institutional investors.

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.