Galiano Gold Inc. (NYSEAMERICAN:GAU) Stock Position Reduced by Franklin Resources Inc.

Franklin Resources Inc. decreased its stake in Galiano Gold Inc. (NYSEAMERICAN:GAU) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,947,262 shares of the company’s stock after selling 110,000 shares during the quarter. Franklin Resources Inc. owned approximately 3.09% of Galiano Gold worth $11,457,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GAU. Donald Smith & CO. Inc. lifted its holdings in shares of Galiano Gold by 33.3% during the 3rd quarter. Donald Smith & CO. Inc. now owns 23,881,323 shares of the company’s stock valued at $33,911,000 after buying an additional 5,961,685 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Galiano Gold in the third quarter valued at approximately $639,000. Acadian Asset Management LLC grew its position in Galiano Gold by 186.2% in the second quarter. Acadian Asset Management LLC now owns 944,190 shares of the company’s stock worth $1,613,000 after acquiring an additional 614,316 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Galiano Gold by 208.8% during the 2nd quarter. Marshall Wace LLP now owns 1,498,359 shares of the company’s stock worth $2,577,000 after purchasing an additional 1,013,141 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Galiano Gold by 43.3% during the 3rd quarter. Van ECK Associates Corp now owns 6,854,000 shares of the company’s stock valued at $9,733,000 after purchasing an additional 2,070,000 shares in the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

Galiano Gold Stock Down 1.6 %

Shares of GAU stock opened at $1.22 on Friday. The firm has a market capitalization of $313.64 million, a PE ratio of -61.00 and a beta of 1.04. Galiano Gold Inc. has a 52-week low of $0.67 and a 52-week high of $2.00.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GAU. Eight Capital upgraded Galiano Gold to a “strong-buy” rating in a research note on Tuesday, November 19th. HC Wainwright upped their price target on shares of Galiano Gold from $4.20 to $4.60 and gave the company a “buy” rating in a report on Tuesday, November 12th.

Galiano Gold Profile

Galiano Gold Inc engages in the exploration and evaluation of gold properties in Canada. Its flagship asset is the Asanko Gold Mine that covers an area of approximately 21,000 hectares located in Ghana, West Africa. The company was formerly known as Asanko Gold Inc and changed its name to Galiano Gold Inc in May 2020.