HC Wainwright Forecasts Strong Price Appreciation for Galiano Gold (NYSEAMERICAN:GAU) Stock

Galiano Gold (NYSEAMERICAN:GAU) had its target price boosted by HC Wainwright from $4.20 to $4.60 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock. HC Wainwright also issued estimates for Galiano Gold’s FY2024 earnings at $0.10 EPS and FY2025 earnings at $0.46 EPS.

Galiano Gold Stock Performance

GAU stock opened at $1.46 on Tuesday. Galiano Gold has a 1-year low of $0.55 and a 1-year high of $2.00. The company has a market capitalization of $373.85 million, a PE ratio of -72.00 and a beta of 1.10.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC boosted its position in Galiano Gold by 172.5% in the first quarter. Acadian Asset Management LLC now owns 329,874 shares of the company’s stock valued at $453,000 after buying an additional 208,800 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Galiano Gold in the 1st quarter worth approximately $118,000. Sapient Capital LLC grew its position in Galiano Gold by 15.8% during the 2nd quarter. Sapient Capital LLC now owns 232,244 shares of the company’s stock worth $399,000 after acquiring an additional 31,744 shares during the last quarter. Van ECK Associates Corp acquired a new stake in Galiano Gold during the 2nd quarter valued at $8,219,000. Finally, National Bank of Canada FI bought a new position in Galiano Gold in the 2nd quarter valued at $59,000. 66.82% of the stock is currently owned by institutional investors and hedge funds.

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.