Pale Fire Capital SE Sells 3,914,409 Shares of Galiano Gold Inc. $GAU

Key Points

• Pale Fire Capital SE cut its stake in Galiano Gold by 49.5% in the first quarter, selling 3,914,409 shares and leaving it with 4,000,000 shares worth about $10.0 million.
• Several other institutional investors were active in GAU, and 66.82% of the stock is now owned by institutions. Notable holders increased positions, including Arrowstreet Capital and Walleye Capital.
• Analysts turned more positive on the stock after Freedom Capital upgraded Galiano Gold to strong-buy; the consensus rating is now Buy with a target price of $4.25, above the stock’s Friday opening price of $1.86.

Pale Fire Capital SE lowered its stake in Galiano Gold Inc. (NYSEAMERICAN:GAU - Free Report) by 49.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,000,000 shares of the company's stock after selling 3,914,409 shares during the period. Galiano Gold makes up 0.9% of Pale Fire Capital SE's portfolio, making the stock its 15th largest holding. Pale Fire Capital SE owned 1.53% of Galiano Gold worth $10,040,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of GAU. Public Employees Retirement System of Ohio lifted its position in Galiano Gold by 107.8% during the first quarter. Public Employees Retirement System of Ohio now owns 431,034 shares of the company's stock worth $1,075,000 after acquiring an additional 223,604 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Galiano Gold by 10.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,872,117 shares of the company's stock valued at $17,224,000 after purchasing an additional 672,133 shares during the last quarter. Walleye Capital LLC grew its position in shares of Galiano Gold by 5,413.7% in the first quarter. Walleye Capital LLC now owns 1,477,180 shares of the company's stock valued at $3,708,000 after purchasing an additional 1,450,389 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Galiano Gold by 109.6% during the first quarter. Dimensional Fund Advisors LP now owns 191,664 shares of the company's stock worth $481,000 after purchasing an additional 100,202 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Galiano Gold during the fourth quarter worth approximately $55,000. 66.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Freedom Capital upgraded Galiano Gold from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Galiano Gold currently has an average rating of "Buy" and a consensus target price of $4.25.

Galiano Gold Stock Performance

GAU stock opened at $1.86 on Friday. Galiano Gold Inc. has a 52 week low of $1.26 and a 52 week high of $3.62. The company has a market capitalization of $486.06 million, a PE ratio of 18.60 and a beta of 0.84. The company's 50-day simple moving average is $2.03 and its 200 day simple moving average is $2.49.

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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