Zacks Research Downgrades Galiano Gold (NYSEAMERICAN:GAU) to Strong Sell

Key Points

• Zacks Research downgraded Galiano Gold from “hold” to “strong sell,” while Freedom Capital separately upgraded the stock to “strong buy.” Overall, analysts’ average rating remains “Moderate Buy,” with a $4.25 average price target.
• GAU opened at $1.75 and was up 0.6%, with a market capitalization of approximately $457 million. The stock’s 12-month trading range is $1.26 to $3.62, while its 50-day and 200-day moving averages are $2.00 and $2.47, respectively.
• Institutional investors own 66.82% of Galiano Gold, with several firms—including American Century, JPMorgan, and Sprott—recently increasing their positions or initiating stakes.

Galiano Gold (NYSEAMERICAN:GAU - Get Free Report) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Separately, Freedom Capital raised Galiano Gold from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $4.25.

Galiano Gold Stock Up 0.6%

GAU stock opened at $1.75 on Tuesday. The firm has a market cap of $457.31 million, a PE ratio of 17.50 and a beta of 0.84. The business has a 50 day moving average of $2.00 and a 200-day moving average of $2.47. Galiano Gold has a 12-month low of $1.26 and a 12-month high of $3.62.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. American Century Companies Inc. raised its holdings 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. Raymond James Financial Inc. purchased a new position in Galiano Gold in the third quarter valued at approximately $28,000. Mariner LLC bought a new position in Galiano Gold during the fourth quarter valued at $38,000. JPMorgan Chase & Co. grew its holdings in Galiano Gold by 10.4% during the third quarter. JPMorgan Chase & Co. now owns 169,962 shares of the company's stock valued at $372,000 after purchasing an additional 16,006 shares during the period. Finally, Sprott Inc. raised its stake in shares of Galiano Gold by 28.1% in the fourth quarter. Sprott Inc. now owns 76,662 shares of the company's stock valued at $194,000 after buying an additional 16,800 shares during the period. 66.82% of the stock is owned by institutional investors.

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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