Galiano Gold (NYSEAMERICAN:GAU) Reaches New 12-Month High - Here's Why

Key Points

• Galiano Gold's stock reached a new 52-week high at $2.17, with a last traded price of $2.11 and a volume of over 3.4 million shares.
• HC Wainwright raised its price target for Galiano Gold from $2.80 to $3.20, maintaining a "buy" rating, supported by an average rating of "Buy" from analysts.
• Institutional investors have increased their stakes in Galiano Gold, with ownership rising to 66.82% of the company's stock and significant boosts from several investment firms.

Galiano Gold Inc. (NYSEAMERICAN:GAU - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $2.17 and last traded at $2.11, with a volume of 3459026 shares changing hands. The stock had previously closed at $2.10.

Analysts Set New Price Targets

Separately, HC Wainwright increased their price target on Galiano Gold from $2.80 to $3.20 and gave the company a "buy" rating in a research note on Thursday, August 14th. One research 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $3.20.

Galiano Gold Trading Up 2.4%

The business has a 50 day moving average of $1.56 and a two-hundred day moving average of $1.39. The firm has a market cap of $560.90 million, a P/E ratio of -72.31 and a beta of 0.57.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Oxford Asset Management LLP bought a new position in Galiano Gold during the 2nd quarter worth $199,000. Bank of America Corp DE increased its position in Galiano Gold by 11.1% during the 2nd quarter. Bank of America Corp DE now owns 1,336,639 shares of the company's stock worth $1,698,000 after buying an additional 133,821 shares during the period. Jane Street Group LLC bought a new position in Galiano Gold during the 2nd quarter worth $142,000. Pale Fire Capital SE increased its position in Galiano Gold by 67.2% during the 2nd quarter. Pale Fire Capital SE now owns 6,011,627 shares of the company's stock worth $7,635,000 after buying an additional 2,415,530 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in Galiano Gold during the 2nd quarter worth $185,000. Institutional investors own 66.82% of the company's stock.

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.