Galiano Gold (NYSEAMERICAN:GAU) Rating Increased to Strong-Buy at Eight Capital

Eight Capital upgraded shares of Galiano Gold (NYSEAMERICAN:GAU) to a strong-buy rating in a research note released on Tuesday,Zacks.com reports.

Separately, HC Wainwright upped their price objective on Galiano Gold from $4.20 to $4.60 and gave the stock a “buy” rating in a research report on Tuesday, November 12th.

Galiano Gold Price Performance

Shares of GAU opened at $1.39 on Tuesday. The company has a market cap of $357.34 million, a price-to-earnings ratio of -69.50 and a beta of 1.10. Galiano Gold has a one year low of $0.60 and a one year high of $2.00.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Donald Smith & CO. Inc. grew its holdings in shares of Galiano Gold by 33.3% during the third quarter. Donald Smith & CO. Inc. now owns 23,881,323 shares of the company’s stock worth $33,911,000 after purchasing an additional 5,961,685 shares during the last quarter. Van ECK Associates Corp acquired a new stake in Galiano Gold during the 2nd quarter worth approximately $8,219,000. Marshall Wace LLP grew its holdings in 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 acquiring an additional 1,013,141 shares during the last quarter. Acadian Asset Management LLC increased its position in Galiano Gold by 186.2% in the 2nd quarter. Acadian Asset Management LLC now owns 944,190 shares of the company’s stock valued at $1,613,000 after acquiring an additional 614,316 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Galiano Gold during the third quarter valued at $639,000. 66.82% of the stock is currently owned by institutional investors and hedge funds.

Galiano Gold Company 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.