Galiano Gold (NYSEAMERICAN:GAU) Shares Gap Up - Time to Buy?

Key Points

• Shares gapped up pre-market from $2.24 to $2.39, last trading at $2.338 with a volume of 622,316 shares and the stock reported up about 3.8%.
• Analyst sentiment is bullish-to-neutral with a consensus rating of Moderate Buy and an average price target of $4.25; HC Wainwright raised its target to $4.25 while Scotiabank maintained a "sector perform" rating.
• The company has a market cap of roughly $604M and is 66.82% owned by institutions, with recent inflows including Goldman Sachs increasing its stake and JPMorgan initiating a position.

Galiano Gold Inc. (NYSEAMERICAN:GAU - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $2.24, but opened at $2.39. Galiano Gold shares last traded at $2.3380, with a volume of 622,316 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Scotiabank reiterated a "sector perform" rating on shares of Galiano Gold in a research note on Monday, January 26th. HC Wainwright lifted their target price on Galiano Gold from $3.20 to $4.25 and gave the company a "buy" rating in a report on Thursday, February 19th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $4.25.

Galiano Gold Stock Up 3.8%

The company has a market cap of $604.01 million, a PE ratio of -19.37 and a beta of 0.82. The stock has a 50-day moving average of $2.91 and a 200-day moving average of $2.63.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its stake in Galiano Gold by 13.7% in the first quarter. Goldman Sachs Group Inc. now owns 882,962 shares of the company's stock valued at $1,095,000 after purchasing an additional 106,685 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in shares of Galiano Gold by 177.0% in the 2nd 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 last quarter. JPMorgan Chase & Co. bought a new position in shares of Galiano Gold in the 2nd quarter worth $196,000. American Century Companies Inc. raised its position in shares of Galiano Gold by 25.9% during the 2nd quarter. American Century Companies Inc. now owns 46,431 shares of the company's stock valued at $59,000 after buying an additional 9,558 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Galiano Gold in the second quarter worth $74,000. 66.82% of the stock is currently owned by institutional investors.

Galiano Gold Company Profile

Galiano Gold Incorporated is a Canada-based gold exploration and development company listed on the NYSE American under the symbol GAU. The company's primary focus is the acquisition, exploration and advancement of gold deposits in the Americas. Galiano Gold pursues a value-driven strategy to build gold resources by identifying high-potential projects, conducting systematic drilling programs and advancing resource definition toward a development decision.

Galiano Gold's flagship asset is the Oko West and Oko East gold project located in the Essequibo region of Guyana, where multiple oxide and primary gold mineralized zones have been outlined through extensive drilling.

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