Is Galiano Gold Inc. (AMEX: GAU) Back In The Buying Zone?


    Ruffer LLP recently announced the acquisition of new stake in Galiano Gold Inc. (AMEX:GAU). The institutional investor has increased its shareholding in the Basic Materials company by 0.83% to 27.01 million shares with purchase of 0.22 million shares. This fresh investment now brings its stake to 12.15% valued currently at $50.79 million. In addition, Sun Valley Gold LLC raised its holdings by 22.08 million to 23.72 million shares. And Renaissance Technologies LLC has lifted its position by 26.97% or 1.41 million shares – to 6.63 million shares.

    With over 1.49 million Galiano Gold Inc. (GAU) shares trading Friday and a closing price of $1.62 on the day, the dollar volume was approximately $2.41 million. The shares have shown a negative weekly performance of -0.61% and its price on 08/28/20 gained nearly 1.89%. Currently, there are 222.61M common shares owned by the public and among those 222.42M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for GAU have a consensus price objective of $2.05. The analysts have set the share’s price value over the next 12 months at a high of $2.55 and a low of $1.70 should the stock experience a downside. But an upside of 36.47% will see the stock hit the forecast high price target while mean target price for the stock is $1.97.

    The top 3 mutual fund holders in Galiano Gold Inc. are LF Ruffer Investment Funds – Gold, Franklin Gold & Precious Metals F, and FTIF SICAV – Gold & Precious Fund. LF Ruffer Investment Funds – Gold owns 27.01 million shares of the company’s stock, all valued at over $50.79 million. The company bought an additional 0.22 million shares recently to bring their total holdings to about 12.15% of the shares outstanding. Franklin Gold & Precious Metals F sold -1.23 million shares to see its total holdings shrink to 9.57 million shares valued at over $18.0 million and representing 4.30% of the shares outstanding. FTIF SICAV – Gold & Precious Fund sold -0.3 million shares to bring its total holdings to over 3.11 million shares at a value of $5.84 million. FTIF SICAV – Gold & Precious Fund now owns shares totaling to 1.40% of the shares outstanding.

    Shares of Galiano Gold Inc. (AMEX: GAU) opened at $1.62, up $0.03 from a prior closing price of $1.59. However, the script later closed the day at $1.62, up 1.89%. The company’s stock has a 5-day price change of -0.61% and 38.46% over the past three months. GAU shares are trading 70.53% year to date (YTD), with the 12-month market performance up to 62.00% higher. It has a 12-month low price of $0.56 and touched a high of $2.12 over the same period. Currently, 1.49 million shares have been traded, compared to an average intraday trading volume of 1.67 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.22%, 2.61%, and 45.61% respectively.

    Institutional ownership of Galiano Gold Inc. (AMEX: GAU) shares accounts for 63.00% of the company’s 222.61M shares outstanding. Mutual fund holders own 23.44%, while other institutional holders and individual stakeholders account for 23.75% and — respectively.

    It has a market capitalization of $351.51M and a beta (3y monthly) value of 0.99. The earnings-per-share (ttm) stands at -$0.58. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.00% over the week and 8.37% over the month.

    Earnings per share for the fiscal year are expected to decrease by -15.80%, and -32.49% over the next financial year.

    Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 2 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”


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