Invesco Ltd. Lowers Position in Galiano Gold Inc. $GAU

Key Points

• Invesco Ltd. reduced its stake in Galiano Gold Inc. by 2.9%, selling 315,400 shares, bringing its ownership to approximately 4.14% of the company, valued at $13.19 million.
• Analysts have adjusted their ratings for Galiano Gold, with HC Wainwright increasing the price target from $2.80 to $3.20 and maintaining a "buy" rating.
• Currently, 66.82% of Galiano Gold's stock is held by institutional investors, indicating significant institutional interest in the company.

Invesco Ltd. decreased its stake in shares of Galiano Gold Inc. (NYSEAMERICAN:GAU - Free Report) by 2.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,636,900 shares of the company's stock after selling 315,400 shares during the quarter. Invesco Ltd. owned about 4.14% of Galiano Gold worth $13,190,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Marshall Wace LLP lifted its position in Galiano Gold by 20.6% in the fourth quarter. Marshall Wace LLP now owns 1,815,814 shares of the company's stock worth $2,233,000 after buying an additional 309,781 shares during the last quarter. Bank of America Corp DE grew its position in Galiano Gold by 46.9% in the 4th quarter. Bank of America Corp DE now owns 860,516 shares of the company's stock valued at $1,058,000 after acquiring an additional 274,759 shares during the last quarter. Two Sigma Advisers LP raised its position in Galiano Gold by 11.4% during the 4th quarter. Two Sigma Advisers LP now owns 155,800 shares of the company's stock valued at $192,000 after purchasing an additional 16,000 shares in the last quarter. Sapient Capital LLC raised its holdings in shares of Galiano Gold by 16.0% in the first quarter. Sapient Capital LLC now owns 287,394 shares of the company's stock valued at $353,000 after acquiring an additional 39,700 shares in the last quarter. Finally, Aegis Financial Corp raised 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 acquiring an additional 86,532 shares in the last quarter. Institutional investors own 66.82% of the company's stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright increased their price objective 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 issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $3.20.

Galiano Gold Stock Performance

Shares of GAU traded up $0.05 during trading hours on Friday, hitting $2.17. 5,467,654 shares of the stock were exchanged, compared to its average volume of 2,465,784. The stock's 50-day moving average price is $1.56 and its two-hundred day moving average price is $1.39. The company has a market cap of $560.90 million, a price-to-earnings ratio of -72.31 and a beta of 0.57. Galiano Gold Inc. has a 12-month low of $1.00 and a 12-month high of $2.19.

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.