Pale Fire Capital SE Buys 1,036,654 Shares of Galiano Gold Inc. $GAU

Key Points

• Pale Fire Capital SE increased its Galiano Gold stake by 25.9%, purchasing 1.04 million shares in the second quarter and bringing its total holdings to 5.04 million shares, or about 1.93% of the company.
• Institutional ownership remains substantial at 66.82%, with several major investors—including Aegis Financial and Bank of America—also increasing their positions.
• Galiano Gold reported quarterly revenue of $183.75 million but narrowly missed EPS estimates, while analysts maintain a consensus “Buy” rating and a $4.25 price target versus the stock’s $2.26 opening price.

Pale Fire Capital SE increased its stake in Galiano Gold Inc. (NYSEAMERICAN:GAU - Free Report) by 25.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,036,654 shares of the company's stock after purchasing an additional 1,036,654 shares during the quarter. Galiano Gold accounts for 0.3% of Pale Fire Capital SE's portfolio, making the stock its 20th largest position. Pale Fire Capital SE owned about 1.93% of Galiano Gold worth $9,419,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Two Sigma Securities LLC boosted its holdings in shares of Galiano Gold by 65.4% in the second quarter. Two Sigma Securities LLC now owns 24,862 shares of the company's stock worth $46,000 after buying an additional 9,828 shares during the last quarter. Aegis Financial Corp lifted its holdings in Galiano Gold by 120.4% in the 2nd quarter. Aegis Financial Corp now owns 14,125,317 shares of the company's stock worth $26,387,000 after purchasing an additional 7,715,996 shares in the last quarter. Bank of America Corp DE boosted its stake in Galiano Gold by 14.9% in the 1st quarter. Bank of America Corp DE now owns 3,907,638 shares of the company's stock worth $9,808,000 after purchasing an additional 507,621 shares during the period. Lazard Asset Management LLC purchased a new stake in Galiano Gold during the 1st quarter valued at approximately $1,931,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Galiano Gold during the first quarter valued at about $139,000. Institutional investors own 66.82% of the company's stock.

Galiano Gold Price Performance

Shares of Galiano Gold stock opened at $2.26 on Thursday. The business has a 50-day moving average of $1.99 and a 200 day moving average of $2.33. The stock has a market capitalization of $591.06 million, a price-to-earnings ratio of 8.69 and a beta of 0.92. Galiano Gold Inc. has a 12 month low of $1.66 and a 12 month high of $3.62.

Galiano Gold (NYSEAMERICAN:GAU - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). The company had revenue of $183.75 million during the quarter, compared to analyst estimates of $151.85 million. Galiano Gold had a net margin of 12.19% and a return on equity of 35.34%. Equities research analysts anticipate that Galiano Gold Inc. will post 0.57 earnings per share for the current year.

Analyst Ratings Changes

GAU has been the subject of a number of recent research reports. Zacks Research upgraded Galiano Gold from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 26th. Freedom Capital upgraded Galiano Gold from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 19th. Finally, Canaccord Genuity Group upgraded shares of Galiano Gold to a "strong-buy" rating in a research report on Thursday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $4.25.

Galiano Gold Company 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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