Goldman Sachs Group Inc. Grows Stake in Galiano Gold Inc. $GAU

Key Points

• Goldman Sachs Group Inc. increased its stake in Galiano Gold Inc. by 13.7% in the first quarter, bringing its total holdings to approximately 0.34% of the company's stock, worth $1,095,000.
• Galiano Gold's stock has seen a price increase of 6.8%, with shares currently trading at $2.52, which marks a substantial rise from its fifty-two week low of $1.00.
• HC Wainwright raised their price target for Galiano Gold from $2.80 to $3.20 and currently, the company has a consensus rating of "Buy".

Goldman Sachs Group Inc. increased its stake in Galiano Gold Inc. (NYSEAMERICAN:GAU - Free Report) by 13.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 882,962 shares of the company's stock after acquiring an additional 106,685 shares during the quarter. Goldman Sachs Group Inc. owned 0.34% of Galiano Gold worth $1,095,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Sprott Inc. boosted its holdings in Galiano Gold by 55.9% in the first quarter. Sprott Inc. now owns 49,362 shares of the company's stock worth $61,000 after acquiring an additional 17,700 shares in the last quarter. Two Sigma Advisers LP raised its position in shares of Galiano Gold by 11.4% during the fourth quarter. Two Sigma Advisers LP now owns 155,800 shares of the company's stock worth $192,000 after purchasing an additional 16,000 shares during the period. Sapient Capital LLC raised its position in shares of Galiano Gold by 16.0% during the first quarter. Sapient Capital LLC now owns 287,394 shares of the company's stock worth $353,000 after purchasing an additional 39,700 shares during the period. Bank of America Corp DE raised its position in shares of Galiano Gold by 46.9% during the fourth quarter. Bank of America Corp DE now owns 860,516 shares of the company's stock worth $1,058,000 after purchasing an additional 274,759 shares during the period. Finally, Aegis Financial Corp lifted its holdings in shares of Galiano Gold by 3.6% in the first quarter. Aegis Financial Corp now owns 2,478,831 shares of the company's stock valued at $3,049,000 after purchasing an additional 86,532 shares in the last quarter. 66.82% of the stock is owned by institutional investors.

Galiano Gold Stock Performance

NYSEAMERICAN:GAU remained flat at $2.52 during trading hours on Monday. The company's stock had a trading volume of 3,568,361 shares, compared to its average volume of 3,221,973. The stock has a 50-day moving average of $1.93 and a 200 day moving average of $1.54. Galiano Gold Inc. has a twelve month low of $1.00 and a twelve month high of $2.72. The firm has a market capitalization of $652.35 million, a PE ratio of 14.00 and a beta of 0.69.

Analyst Ratings Changes

Separately, HC Wainwright raised their target price on Galiano Gold from $2.80 to $3.20 and gave the company a "buy" rating in a report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Galiano Gold currently has an average rating of "Buy" and an average price target of $3.20.

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.