Galiano Gold (NYSEAMERICAN:GAU) Shares Up 1.4% - Here's Why

Key Points

• Galiano Gold Inc. shares rose by 1.4%, trading at $1.47 after reaching a high of $1.50, despite a 21% drop in trading volume compared to the average session.
• Institutional investors have increased their stakes in Galiano Gold, with Bank of America Corp DE boosting its holdings by 46.9% and Marshall Wace LLP increasing its position by 20.6% in the fourth quarter.
• The company, known for the Asanko Gold Mine in Ghana, has a market capitalization of approximately $379.82 million and a price-to-earnings ratio of -21.00.

Galiano Gold Inc. (NYSEAMERICAN:GAU - Get Free Report)'s stock price was up 1.4% during mid-day trading on Wednesday . The company traded as high as $1.50 and last traded at $1.47. Approximately 881,323 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 1,111,524 shares. The stock had previously closed at $1.45.

Galiano Gold Stock Performance

The company has a market capitalization of $392.74 million, a P/E ratio of -21.71 and a beta of 0.57. The stock's fifty day moving average price is $1.40 and its 200-day moving average price is $1.31.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. grew its stake in Galiano Gold by 939.4% in the 2nd quarter. SBI Securities Co. Ltd. now owns 25,009 shares of the company's stock valued at $32,000 after purchasing an additional 22,603 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Galiano Gold during the 4th quarter valued at $54,000. Sprott Inc. increased its holdings in Galiano Gold by 55.9% in the 1st quarter. Sprott Inc. now owns 49,362 shares of the company's stock worth $61,000 after acquiring an additional 17,700 shares during the last quarter. Two Sigma Advisers LP raised 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 acquiring an additional 16,000 shares during the period. Finally, Sapient Capital LLC lifted its holdings in Galiano Gold by 16.0% during the first quarter. Sapient Capital LLC now owns 287,394 shares of the company's stock valued at $353,000 after purchasing an additional 39,700 shares during the last quarter. Institutional investors and hedge funds own 66.82% of the company's stock.

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.