MMCAP International Inc. SPC Buys New Shares in Galiano Gold Inc. $GAU

MMCAP International Inc. SPC bought a new position in shares of Galiano Gold Inc. (NYSEAMERICAN:GAU) in the 3rd quarter, Holdings Channel.com reports. The fund bought 250,000 shares of the company’s stock, valued at approximately $544,000.

Several other large investors also recently bought and sold shares of GAU. Aegis Financial Corp boosted its stake in shares of Galiano Gold by 162.5% in the 2nd quarter. Aegis Financial Corp now owns 6,505,921 shares of the company’s stock valued at $8,250,000 after buying an additional 4,027,090 shares during the period. Pale Fire Capital SE raised its holdings in Galiano Gold by 67.2% in the second quarter. Pale Fire Capital SE now owns 6,011,627 shares of the company’s stock valued at $7,635,000 after acquiring an additional 2,415,530 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in Galiano Gold in the third quarter valued at approximately $11,515,000. Bank of America Corp DE lifted its stake in Galiano Gold by 11.1% in the second quarter. Bank of America Corp DE now owns 1,336,639 shares of the company’s stock worth $1,698,000 after acquiring an additional 133,821 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in 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 acquiring an additional 915,154 shares in the last quarter. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Galiano Gold Stock Up 2.0%

GAU stock opened at $3.07 on Monday. The stock has a market cap of $797.56 million, a P/E ratio of -25.58 and a beta of 0.87. The company has a current ratio of 0.92, a quick ratio of 0.60 and a debt-to-equity ratio of 0.07. Galiano Gold Inc. has a twelve month low of $1.00 and a twelve month high of $3.26. The company’s 50 day moving average is $2.77 and its two-hundred day moving average is $2.49.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GAU. HC Wainwright raised their price objective on shares of Galiano Gold from $3.20 to $4.25 and gave the company a “buy” rating in a report on Thursday. Scotiabank reissued a “sector perform” rating on shares of Galiano Gold in a report on Monday, January 26th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $4.25.

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.