Galiano Gold (NYSEAMERICAN:GAU) Upgraded by Canaccord Genuity Group to Strong-Buy Rating

Key Points

• Canaccord Genuity Group upgraded Galiano Gold to “strong buy,” while analyst sentiment overall remains “Moderate Buy” with a consensus price target of $4.25.
• GAU opened at $2.09, compared with its 52-week range of $1.66 to $3.62; the company has a market capitalization of approximately $546 million.
• Institutional investors own 66.82% of Galiano Gold, with several firms recently initiating or increasing positions.

Galiano Gold (NYSEAMERICAN:GAU - Get Free Report) was upgraded by research analysts at Canaccord Genuity Group to a "strong-buy" rating in a research note issued to investors on Thursday,Zacks.com reports.

GAU has been the subject of a number of other research reports. Freedom Capital raised Galiano Gold from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 19th. Zacks Research downgraded shares of Galiano Gold from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $4.25.

Galiano Gold Price Performance

GAU stock opened at $2.09 on Thursday. The stock has a market capitalization of $546.35 million, a P/E ratio of 8.04 and a beta of 0.86. Galiano Gold has a 1-year low of $1.66 and a 1-year high of $3.62. The business has a fifty day moving average price of $1.93 and a 200-day moving average price of $2.39.

Institutional Trading of Galiano Gold

Large investors have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Galiano Gold in the third quarter worth about $28,000. Mariner LLC bought a new stake in shares of Galiano Gold during the 4th quarter valued at about $38,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Galiano Gold during the 4th quarter valued at about $55,000. Russell Investments Group Ltd. purchased a new stake in shares of Galiano Gold during the 4th quarter valued at about $55,000. Finally, American Century Companies Inc. lifted its stake in shares of Galiano Gold by 25.9% in the 2nd quarter. American Century Companies Inc. now owns 46,431 shares of the company's stock worth $59,000 after purchasing an additional 9,558 shares during the period. Institutional investors own 66.82% of the company's stock.

About Galiano Gold

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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