Galiano Gold (NYSEAMERICAN:GAU) Trading 7.4% Higher – Should You Buy?

Galiano Gold Inc. (NYSEAMERICAN:GAU)’s stock price was up 7.4% on Tuesday . The stock traded as high as $3.01 and last traded at $2.9850. Approximately 1,126,554 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 2,476,842 shares. The stock had previously closed at $2.78.

Wall Street Analyst Weigh In

Separately, Scotiabank upgraded Galiano Gold to a “hold” rating in a research report on Friday, November 28th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $3.20.

Galiano Gold Stock Performance

The company has a market cap of $778.07 million, a P/E ratio of -16.64 and a beta of 0.86. The company’s fifty day moving average is $2.48 and its 200 day moving average is $2.24. The company has a current ratio of 0.98, a quick ratio of 0.70 and a debt-to-equity ratio of 0.07.

Institutional Investors Weigh In On Galiano Gold

A number of hedge funds and other institutional investors have recently modified their holdings of GAU. Sprott Inc. boosted its holdings in Galiano Gold by 13.7% during the 3rd quarter. Sprott Inc. now owns 59,862 shares of the company’s stock valued at $131,000 after acquiring an additional 7,200 shares during the period. American Century Companies Inc. lifted its position in 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 purchasing an additional 9,558 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Galiano Gold during the third quarter valued at approximately $28,000. JPMorgan Chase & Co. boosted its stake in shares of Galiano Gold by 10.4% during the third quarter. JPMorgan Chase & Co. now owns 169,962 shares of the company’s stock valued at $372,000 after purchasing an additional 16,006 shares during the period. Finally, SBI Securities Co. Ltd. grew its holdings in shares of Galiano Gold by 939.4% in the second quarter. SBI Securities Co. Ltd. now owns 25,009 shares of the company’s stock worth $32,000 after purchasing an additional 22,603 shares during the last quarter. Institutional investors own 66.82% of the company’s stock.

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.