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

Key Points

• Galiano Gold Inc. shares reached a new 12-month high of $2.05, compared to a previous close of $1.94, with a trading volume of nearly 3.4 million shares.
• HC Wainwright has increased its price target for Galiano Gold to $3.20, maintaining a "buy" rating for the stock.
• Institutional ownership of Galiano Gold is significant, with hedge funds holding 66.82% of the company's shares.

Galiano Gold Inc. (NYSEAMERICAN:GAU - Get Free Report) shares hit a new 52-week high during trading on Saturday . The stock traded as high as $2.05 and last traded at $2.04, with a volume of 3398847 shares traded. The stock had previously closed at $1.94.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright boosted their target price on shares of Galiano Gold from $2.80 to $3.20 and gave the stock 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 given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $3.20.

Galiano Gold Price Performance

The company has a market capitalization of $528.59 million, a P/E ratio of -68.14 and a beta of 0.57. The business's 50-day moving average price is $1.46 and its two-hundred day moving average price is $1.34.

Hedge Funds Weigh In On Galiano Gold

Several institutional investors and hedge funds have recently modified their holdings of GAU. SBI Securities Co. Ltd. raised its holdings in 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 buying an additional 22,603 shares during the period. American Century Companies Inc. increased 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 acquiring an additional 9,558 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its holdings 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 acquiring an additional 29,690 shares during the period. Sprott Inc. lifted its position in 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 bought a new position in Galiano Gold during the 2nd quarter worth about $74,000. 66.82% of the stock is currently owned by institutional investors and hedge funds.

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.