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

Galiano Gold (NYSEAMERICAN:GAU) had its price objective boosted by analysts at HC Wainwright from $4.20 to $4.60 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 219.44% from the stock’s current price.

Galiano Gold Stock Performance

NYSEAMERICAN:GAU opened at $1.44 on Tuesday. The stock has a market capitalization of $369.99 million, a price-to-earnings ratio of -72.25 and a beta of 1.10. Galiano Gold has a 12-month low of $0.52 and a 12-month high of $2.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new position in shares of Galiano Gold during the 3rd quarter worth about $33,000. National Bank of Canada FI purchased a new position in shares of Galiano Gold during the 2nd quarter worth about $59,000. Cubist Systematic Strategies LLC lifted its holdings in shares of Galiano Gold by 141.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 54,163 shares of the company’s stock worth $93,000 after acquiring an additional 31,757 shares during the period. Virtu Financial LLC purchased a new position in shares of Galiano Gold during the 1st quarter worth about $118,000. Finally, Sapient Capital LLC lifted its holdings in shares of Galiano Gold by 6.7% during the 3rd quarter. Sapient Capital LLC now owns 247,694 shares of the company’s stock worth $354,000 after acquiring an additional 15,450 shares during the period. 66.82% of the stock is currently owned by hedge funds and other institutional investors.

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.