Lazard Asset Management LLC Takes $1.93 Million Position in Galiano Gold Inc. $GAU

Key Points

• Lazard Asset Management acquired 769,355 shares of Galiano Gold worth approximately $1.93 million, representing about 0.29% of the company.
• Institutional ownership stands at 66.82%, with several funds—including Walleye Capital, Renaissance Technologies, Arrowstreet Capital and UBS—significantly increasing their positions.
• GAU opened at $1.77, below its 50-day and 200-day moving averages. Analysts maintain a “Moderate Buy” consensus with a $4.25 average price target, despite ratings ranging from Strong Buy to Strong Sell.

Lazard Asset Management LLC purchased a new position in Galiano Gold Inc. (NYSEAMERICAN:GAU - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 769,355 shares of the company's stock, valued at approximately $1,931,000. Lazard Asset Management LLC owned approximately 0.29% of Galiano Gold as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. U S Global Investors Inc. purchased a new stake in Galiano Gold during the 4th quarter worth approximately $5,548,000. Walleye Capital LLC boosted its stake in shares of Galiano Gold by 5,413.7% during the 1st quarter. Walleye Capital LLC now owns 1,477,180 shares of the company's stock valued at $3,708,000 after buying an additional 1,450,389 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Galiano Gold by 12.9% during the 1st quarter. Renaissance Technologies LLC now owns 5,006,653 shares of the company's stock valued at $12,567,000 after buying an additional 573,000 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Galiano Gold by 10.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 6,872,117 shares of the company's stock worth $17,224,000 after buying an additional 672,133 shares in the last quarter. Finally, UBS Group AG grew its position in shares of Galiano Gold by 30,544.5% during the third quarter. UBS Group AG now owns 1,313,118 shares of the company's stock worth $2,876,000 after buying an additional 1,308,833 shares in the last quarter. Institutional investors and hedge funds own 66.82% of the company's stock.

Galiano Gold Price Performance

GAU stock opened at $1.77 on Tuesday. Galiano Gold Inc. has a 1-year low of $1.38 and a 1-year high of $3.62. The firm has a fifty day moving average price of $1.97 and a two-hundred day moving average price of $2.44. The firm has a market cap of $462.54 million, a price-to-earnings ratio of 17.70 and a beta of 0.86.

Analyst Upgrades and Downgrades

GAU has been the topic of several recent analyst reports. Zacks Research cut shares of Galiano Gold from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 28th. Freedom Capital raised shares of Galiano Gold from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $4.25.

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.

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