Aegis Financial Corp Buys 7,715,996 Shares of Galiano Gold Inc. $GAU

Key Points

• Aegis Financial Corp more than doubled its Galiano Gold stake in the second quarter, buying 7.72 million additional shares. It now owns 14.13 million shares, representing about 5.4% of GAU and 4.2% of Aegis’s portfolio.
• Institutional ownership remains substantial, with hedge funds and other institutions holding 66.82% of Galiano Gold. Several firms, including Raymond James Financial and Schonfeld Strategic Advisors, recently initiated positions.
• Analyst sentiment is broadly positive: Galiano has a consensus “Buy” rating and a $4.25 price target, despite the company narrowly missing quarterly EPS estimates. Shares recently traded at $2.29, while quarterly revenue exceeded expectations.

Aegis Financial Corp increased its stake in shares of Galiano Gold Inc. (NYSEAMERICAN:GAU - Free Report) by 120.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,125,317 shares of the company's stock after purchasing an additional 7,715,996 shares during the quarter. Galiano Gold accounts for approximately 4.2% of Aegis Financial Corp's holdings, making the stock its 10th biggest position. Aegis Financial Corp owned approximately 5.40% of Galiano Gold worth $26,387,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in Galiano Gold in the 3rd quarter valued at $28,000. Mariner LLC acquired a new position in shares of Galiano Gold during the fourth quarter worth about $38,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Galiano Gold during the fourth quarter worth about $55,000. Russell Investments Group Ltd. purchased a new position in Galiano Gold during the fourth quarter worth about $55,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Galiano Gold during the third quarter worth about $96,000. 66.82% of the stock is currently owned by hedge funds and other institutional investors.

Galiano Gold Stock Performance

GAU opened at $2.29 on Friday. The company has a market cap of $598.63 million, a price-to-earnings ratio of 8.81 and a beta of 0.86. Galiano Gold Inc. has a one year low of $1.66 and a one year high of $3.62. The business's fifty day moving average is $1.97 and its two-hundred day moving average is $2.35.

Galiano Gold (NYSEAMERICAN:GAU - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). The business had revenue of $183.75 million for the quarter, compared to analysts' expectations of $151.85 million. Galiano Gold had a net margin of 12.19% and a return on equity of 35.34%. On average, analysts predict that Galiano Gold Inc. will post 0.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GAU. Canaccord Genuity Group raised Galiano Gold to a "strong-buy" rating in a report on Thursday, August 13th. Zacks Research raised Galiano Gold from a "strong sell" rating to a "hold" rating in a report on Wednesday. Finally, Freedom Capital raised Galiano Gold from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Galiano Gold has a consensus rating of "Buy" and a consensus price target of $4.25.

Galiano Gold Profile

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.

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