Galiano Gold (NYSEAMERICAN:GAU) Hits New 52-Week High - Time to Buy?

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)'s stock price reached a new 52-week high 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.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright lifted their target price 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 assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $3.20.

Galiano Gold Stock Down 0.7%

The stock has a market capitalization of $541.52 million, a price-to-earnings ratio of -69.81 and a beta of 0.57. The company's 50-day simple moving average is $1.49 and its 200 day simple moving average is $1.36.

Institutional Investors Weigh In On Galiano Gold

A number of large investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its position in Galiano Gold by 25.9% during the second quarter. American Century Companies Inc. now owns 46,431 shares of the company's stock worth $59,000 after purchasing an additional 9,558 shares during the period. Two Sigma Advisers LP boosted its position in Galiano Gold by 11.4% during the fourth quarter. Two Sigma Advisers LP now owns 155,800 shares of the company's stock worth $192,000 after purchasing an additional 16,000 shares during the period. Sprott Inc. boosted its position in Galiano Gold by 55.9% during the first 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. SBI Securities Co. Ltd. boosted its position in Galiano Gold by 939.4% during the second quarter. SBI Securities Co. Ltd. now owns 25,009 shares of the company's stock worth $32,000 after purchasing an additional 22,603 shares during the period. Finally, Dynamic Technology Lab Private Ltd boosted its position in Galiano Gold by 177.0% during the second quarter. Dynamic Technology Lab Private Ltd now owns 46,466 shares of the company's stock worth $59,000 after purchasing an additional 29,690 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.