Galiano Gold (NYSEAMERICAN:GAU) Raised to Strong-Buy at Canaccord Genuity Group

Galiano Gold (NYSEAMERICAN:GAU) was upgraded by research analysts at Canaccord Genuity Group to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

Several other equities analysts also recently weighed in on the company. Zacks Research downgraded Galiano Gold from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Freedom Capital upgraded Galiano Gold from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $4.25.

Galiano Gold Price Performance

Shares of GAU stock opened at $2.09 on Thursday. The company has a market cap of $546.35 million, a price-to-earnings ratio of 8.04 and a beta of 0.86. Galiano Gold has a 1 year low of $1.66 and a 1 year high of $3.62. The firm has a fifty day moving average price of $1.93 and a 200-day moving average price of $2.39.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its stake in Galiano Gold by 14.9% in the 1st quarter. Bank of America Corp DE now owns 3,907,638 shares of the company’s stock worth $9,808,000 after buying an additional 507,621 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Galiano Gold during the first quarter worth $1,931,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Galiano Gold during the first quarter valued at $139,000. Renaissance Technologies LLC grew its stake in Galiano Gold by 12.9% during the first quarter. Renaissance Technologies LLC now owns 5,006,653 shares of the company’s stock valued at $12,567,000 after acquiring an additional 573,000 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in Galiano Gold by 107.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 431,034 shares of the company’s stock valued at $1,075,000 after acquiring an additional 223,604 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.