HighTower Advisors LLC Purchases Shares of 25,000 Galiano Gold Inc. (NYSEAMERICAN:GAU)

HighTower Advisors LLC purchased a new position in shares of Galiano Gold Inc. (NYSEAMERICAN:GAU) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 25,000 shares of the company’s stock, valued at approximately $36,000.

Other hedge funds also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new stake in Galiano Gold in the third quarter valued at approximately $33,000. National Bank of Canada FI acquired a new position in shares of Galiano Gold in the 2nd quarter worth approximately $59,000. Cubist Systematic Strategies LLC boosted its stake in shares of Galiano Gold by 141.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 54,163 shares of the company’s stock valued at $93,000 after purchasing an additional 31,757 shares during the last quarter. Sapient Capital LLC increased its position in shares of Galiano Gold by 6.7% during the third quarter. Sapient Capital LLC now owns 247,694 shares of the company’s stock worth $354,000 after buying an additional 15,450 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new position in Galiano Gold during the third quarter worth $639,000. Institutional investors and hedge funds own 66.82% of the company’s stock.

Galiano Gold Stock Performance

Shares of NYSEAMERICAN GAU opened at $1.25 on Friday. The firm has a market cap of $321.35 million, a P/E ratio of 13.30 and a beta of 1.04. Galiano Gold Inc. has a 12-month low of $0.80 and a 12-month high of $2.00.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Eight Capital raised shares of Galiano Gold to a “strong-buy” rating in a research report on Tuesday, November 19th. HC Wainwright upped their target price on Galiano Gold from $4.20 to $4.60 and gave the company a “buy” rating in a research report on Tuesday, November 12th.

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.