Galiano Gold (NYSEAMERICAN:GAU) Sets New 1-Year High - Here's Why

Key Points

• Galiano Gold's share price reached a new 52-week high at $2.21, with a trading volume of 210,402 shares.
• HC Wainwright raised their price target for Galiano Gold from $2.80 to $3.20, maintaining a "buy" rating.
• Institutional investors now own 66.82% of Galiano Gold's stock, with significant increases in stake from several firms in recent quarters.

Galiano Gold Inc. (NYSEAMERICAN:GAU - Get Free Report)'s share price reached a new 52-week high on Tuesday . The stock traded as high as $2.20 and last traded at $2.21, with a volume of 210402 shares changing hands. The stock had previously closed at $2.17.

Analyst Ratings Changes

Separately, HC Wainwright raised their price target on Galiano Gold from $2.80 to $3.20 and gave the company a "buy" rating in a research report on Thursday, August 14th. One investment 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 company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $3.20.

Galiano Gold Trading Up 4.1%

The stock has a 50-day simple moving average of $1.58 and a 200-day simple moving average of $1.40. The company has a market cap of $583.65 million, a price-to-earnings ratio of -75.47 and a beta of 0.69.

Institutional Trading of Galiano Gold

Hedge funds and other institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. raised its stake in shares of Galiano Gold by 939.4% in the 2nd quarter. SBI Securities Co. Ltd. now owns 25,009 shares of the company's stock worth $32,000 after buying an additional 22,603 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of 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. American Century Companies Inc. raised its position in shares of 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. Sprott Inc. raised its position in shares of 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. Finally, XTX Topco Ltd acquired a new stake in shares of Galiano Gold during the second quarter worth $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.

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.