Galiano Gold (NYSEAMERICAN:GAU) Sees Large Volume Increase - Time to Buy?

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) shares saw unusually-high trading volume on Monday . Approximately 1,269,570 shares were traded 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.

Analysts Set New Price Targets

Separately, HC Wainwright upped their target price on Galiano Gold from $2.80 to $3.20 and gave the stock a "buy" rating in a research report 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 issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $3.20.

Galiano Gold Price Performance

The stock has a market capitalization of $545.39 million, a P/E ratio of -70.31 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 GAU. Marshall Wace LLP increased its holdings in shares of Galiano Gold by 20.6% in the fourth quarter. Marshall Wace LLP now owns 1,815,814 shares of the company's stock valued at $2,233,000 after purchasing an additional 309,781 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Galiano Gold by 46.9% during the 4th quarter. Bank of America Corp DE now owns 860,516 shares of the company's stock worth $1,058,000 after buying an additional 274,759 shares during the period. Two Sigma Advisers LP grew its stake in Galiano Gold by 11.4% in the 4th quarter. Two Sigma Advisers LP now owns 155,800 shares of the company's stock valued at $192,000 after buying an additional 16,000 shares during the last quarter. Sapient Capital LLC grew its stake in Galiano Gold by 16.0% in the 1st quarter. Sapient Capital LLC now owns 287,394 shares of the company's stock valued at $353,000 after buying an additional 39,700 shares during the last quarter. Finally, Aegis Financial Corp raised its holdings in Galiano Gold by 3.6% in the 1st quarter. Aegis Financial Corp now owns 2,478,831 shares of the company's stock valued at $3,049,000 after acquiring an additional 86,532 shares during the period. 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.