Galiano Gold (NYSEAMERICAN:GAU) Trading 2.2% Higher - Should You Buy?

Galiano Gold Inc. (NYSEAMERICAN:GAU - Get Free Report) shares traded up 2.2% during trading on Wednesday . The company traded as high as $1.40 and last traded at $1.40. 458,004 shares were traded during trading, a decline of 47% from the average session volume of 871,660 shares. The stock had previously closed at $1.37.

Analysts Set New Price Targets

Separately, HC Wainwright restated a "buy" rating and issued a $2.80 target price on shares of Galiano Gold in a research note on Wednesday, March 19th.

Galiano Gold Trading Down 2.5%

The stock has a fifty day moving average price of $1.32 and a 200 day moving average price of $1.34. The firm has a market cap of $345.88 million, a price-to-earnings ratio of -67.25 and a beta of 1.05.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GAU. Pale Fire Capital SE acquired a new stake in Galiano Gold during the first quarter worth about $4,459,000. Aegis Financial Corp increased its holdings in shares of Galiano Gold by 2,154.8% during the fourth quarter. Aegis Financial Corp now owns 2,392,299 shares of the company's stock worth $2,978,000 after buying an additional 2,286,199 shares in the last quarter. Donald Smith & CO. Inc. increased its holdings in Galiano Gold by 7.7% during the 4th quarter. Donald Smith & CO. Inc. now owns 25,708,407 shares of the company's stock valued at $31,621,000 after purchasing an additional 1,827,084 shares in the last quarter. Ruffer LLP increased its stake in shares of Galiano Gold by 4.8% in the fourth quarter. Ruffer LLP now owns 18,438,262 shares of the company's stock valued at $22,960,000 after buying an additional 838,300 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Galiano Gold by 20.6% in the fourth quarter. Marshall Wace LLP now owns 1,815,814 shares of the company's stock worth $2,233,000 after acquiring an additional 309,781 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.