Galiano Gold Inc. $GAU Position Lowered by Equinox Partners Investment Management LLC

Key Points

• Equinox Partners Investment Management LLC reduced its stake in Galiano Gold Inc. by 5.2%, maintaining it as their largest holding at approximately 21.9% of their portfolio, following a sale of 1.7 million shares.
• Other institutional investors, including Pale Fire Capital SE and Ruffer LLP, have also increased their stakes in Galiano Gold during the first quarter, indicating notable interest from the investment community.
• Galiano Gold saw a significant price target increase from HC Wainwright, rising from $2.80 to $3.20, with the stock currently holding a consensus rating of "Buy."

Equinox Partners Investment Management LLC decreased its position in shares of Galiano Gold Inc. (NYSEAMERICAN:GAU - Free Report) by 5.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,082,506 shares of the company's stock after selling 1,700,000 shares during the quarter. Galiano Gold accounts for approximately 21.9% of Equinox Partners Investment Management LLC's portfolio, making the stock its largest holding. Equinox Partners Investment Management LLC owned 12.09% of Galiano Gold worth $38,237,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in GAU. Sprott Inc. grew its stake in shares of Galiano Gold by 55.9% during the 1st quarter. Sprott Inc. now owns 49,362 shares of the company's stock worth $61,000 after purchasing an additional 17,700 shares during the period. Two Sigma Advisers LP grew its stake in Galiano Gold by 11.4% in the 4th quarter. Two Sigma Advisers LP now owns 155,800 shares of the company's stock valued at $192,000 after acquiring an additional 16,000 shares during the period. Sapient Capital LLC grew its stake in Galiano Gold by 16.0% in the 1st 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 during the period. Bank of America Corp DE grew its stake 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 period. Finally, Aegis Financial Corp grew its stake in Galiano Gold by 3.6% in the 1st 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 during the period. Institutional investors and hedge funds own 66.82% of the company's stock.

Galiano Gold Trading Up 3.1%

GAU traded up $0.08 on Monday, hitting $2.62. 3,734,514 shares of the company's stock were exchanged, compared to its average volume of 1,379,450. Galiano Gold Inc. has a fifty-two week low of $1.00 and a fifty-two week high of $2.65. The firm has a 50-day moving average price of $1.67 and a 200-day moving average price of $1.44. The stock has a market cap of $678.24 million, a price-to-earnings ratio of -87.30 and a beta of 0.69.

Analyst Upgrades and Downgrades

Separately, HC Wainwright lifted their price target on shares of Galiano Gold from $2.80 to $3.20 and gave the company a "buy" rating in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $3.20.

About Galiano Gold

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.