Galiano Gold Inc. (NYSEAMERICAN:GAU) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of Galiano Gold Inc. (NYSEAMERICAN:GAU) by 19.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,037,824 shares of the company’s stock after selling 247,500 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.40% of Galiano Gold worth $1,291,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ruffer LLP increased its holdings in Galiano Gold by 4.8% in the 4th quarter. Ruffer LLP now owns 18,438,262 shares of the company’s stock worth $22,960,000 after acquiring an additional 838,300 shares in the last quarter. Sprott Inc. acquired a new position in shares of Galiano Gold during the 4th quarter worth about $39,000. JPMorgan Chase & Co. acquired a new stake in Galiano Gold in the 3rd quarter worth about $147,000. XTX Topco Ltd purchased a new stake in Galiano Gold during the 3rd quarter worth approximately $64,000. Finally, HighTower Advisors LLC acquired a new position in shares of Galiano Gold during the third quarter valued at approximately $36,000. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Galiano Gold Stock Up 7.2 %

GAU stock opened at $1.34 on Thursday. Galiano Gold Inc. has a 1 year low of $1.07 and a 1 year high of $2.00. The stock has a market capitalization of $344.59 million, a price-to-earnings ratio of -67.00 and a beta of 1.05. The firm has a 50 day moving average of $1.23.

Analyst Ratings Changes

Several analysts recently commented on GAU shares. HC Wainwright reiterated a “buy” rating and set a $2.80 price target on shares of Galiano Gold in a research report on Wednesday. BMO Capital Markets cut shares of Galiano Gold from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th.

Galiano Gold 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.