Galiano Gold (NYSEAMERICAN:GAU) Trading 1.4% Higher - Should You Buy?

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.

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

Galiano Gold Price Performance

The stock's 50 day moving average price is $1.40 and its two-hundred day moving average price is $1.31. The firm has a market capitalization of $394.03 million, a price-to-earnings ratio of -21.78 and a beta of 0.57.

Hedge Funds Weigh In On Galiano Gold

Several large investors have recently bought and sold shares of the stock. 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 valued at $32,000 after buying an additional 22,603 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Galiano Gold in the 4th quarter valued at $54,000. Sprott Inc. raised its stake in shares of 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 buying an additional 17,700 shares in the last quarter. Two Sigma Advisers LP grew its holdings in shares of Galiano Gold by 11.4% in the 4th quarter. Two Sigma Advisers LP now owns 155,800 shares of the company's stock worth $192,000 after purchasing an additional 16,000 shares during the last quarter. Finally, Sapient Capital LLC grew its holdings in shares of Galiano Gold by 16.0% in the 1st quarter. Sapient Capital LLC now owns 287,394 shares of the company's stock worth $353,000 after purchasing an additional 39,700 shares during the last quarter. 66.82% of the stock is currently owned by institutional investors and hedge funds.

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.