Galiano Gold (NYSEAMERICAN:GAU) Sees Large Volume Increase - What's Next?

Key Points

• Galiano Gold experienced a **13% increase** in trading volume, with **1,269,570 shares** traded, maintaining its stock price at **$2.04**.
• HC Wainwright raised their price target for Galiano Gold from **$2.80 to $3.20**, maintaining a **"buy"** rating on the stock.
• Institutional investors now hold **66.82%** of Galiano Gold's stock, with SBI Securities significantly boosting its stake by **939.4%** in the latest quarter.

Galiano Gold Inc. (NYSEAMERICAN:GAU - Get Free Report) saw an uptick in trading volume on Monday . 1,269,570 shares changed hands during mid-day trading, an increase of 13% from the previous session's volume of 1,121,034 shares.The stock last traded at $2.04 and had previously closed at $2.04.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright lifted their price target on shares of Galiano Gold from $2.80 to $3.20 and gave the stock a "buy" rating in a research note on Thursday.

Galiano Gold Trading Down 0.2%

The stock's 50 day simple moving average is $1.43 and its 200 day simple moving average is $1.33. The stock has a market capitalization of $526.01 million, a P/E ratio of -67.81 and a beta of 0.57.

Hedge Funds Weigh In On Galiano Gold

Several institutional investors have recently modified their holdings of GAU. SBI Securities Co. Ltd. boosted its stake in shares of Galiano Gold by 939.4% during the 2nd quarter. SBI Securities Co. Ltd. now owns 25,009 shares of the company's stock worth $32,000 after acquiring an additional 22,603 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Galiano Gold by 177.0% in the second quarter. Dynamic Technology Lab Private Ltd now owns 46,466 shares of the company's stock worth $59,000 after buying an additional 29,690 shares during the period. American Century Companies Inc. increased its position in shares of Galiano Gold by 25.9% in the second quarter. American Century Companies Inc. now owns 46,431 shares of the company's stock worth $59,000 after acquiring an additional 9,558 shares in the last quarter. Sprott Inc. lifted its position in shares of Galiano Gold by 55.9% in the 1st quarter. Sprott Inc. now owns 49,362 shares of the company's stock valued at $61,000 after acquiring an additional 17,700 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in Galiano Gold in the 2nd quarter worth approximately $74,000. Institutional investors own 66.82% of the company's stock.

Galiano Gold Company Profile

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.

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