Van ECK Associates Corp Decreases Stake in Galiano Gold Inc. (NYSEAMERICAN:GAU)

Van ECK Associates Corp cut its holdings in Galiano Gold Inc. (NYSEAMERICAN:GAU) by 8.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,295,840 shares of the company’s stock after selling 558,160 shares during the period. Van ECK Associates Corp owned about 2.45% of Galiano Gold worth $7,835,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new position in Galiano Gold in the 3rd quarter worth approximately $33,000. HighTower Advisors LLC bought a new position in Galiano Gold during the third quarter worth $36,000. XTX Topco Ltd bought a new position in Galiano Gold during the third quarter worth $64,000. JPMorgan Chase & Co. bought a new position in Galiano Gold during the third quarter worth $147,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Galiano Gold in the third quarter worth $639,000. 66.82% of the stock is currently owned by hedge funds and other institutional investors.

Galiano Gold Trading Down 4.5 %

Shares of GAU stock opened at $1.26 on Tuesday. The firm has a market capitalization of $324.02 million, a P/E ratio of -63.00 and a beta of 1.05. Galiano Gold Inc. has a one year low of $0.81 and a one year high of $2.00.

Analyst Upgrades and Downgrades

GAU has been the topic of a number of research analyst reports. BMO Capital Markets lowered Galiano Gold from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. HC Wainwright lowered their target price on Galiano Gold from $3.10 to $2.80 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, Eight Capital raised Galiano Gold to a “strong-buy” rating in a report on Tuesday, November 19th.

Galiano Gold Company 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.