Sprott Inc. Invests $39,000 in Galiano Gold Inc. (NYSEAMERICAN:GAU)
by Michael Walen · The Markets DailySprott Inc. bought a new position in Galiano Gold Inc. (NYSEAMERICAN:GAU – Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 31,662 shares of the company’s stock, valued at approximately $39,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Donald Smith & CO. Inc. boosted its stake in Galiano Gold by 33.3% in the 3rd quarter. Donald Smith & CO. Inc. now owns 23,881,323 shares of the company’s stock worth $33,911,000 after purchasing an additional 5,961,685 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Galiano Gold by 43.3% in the third quarter. Van ECK Associates Corp now owns 6,854,000 shares of the company’s stock valued at $9,733,000 after purchasing an additional 2,070,000 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Galiano Gold in the third quarter valued at $33,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Galiano Gold in the third quarter worth $639,000. Finally, De Lisle Partners LLP grew its holdings in shares of Galiano Gold by 14.0% during the third quarter. De Lisle Partners LLP now owns 815,416 shares of the company’s stock valued at $1,154,000 after buying an additional 100,000 shares in the last quarter. 66.82% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages recently issued reports on GAU. HC Wainwright reduced their price objective on Galiano Gold from $3.10 to $2.80 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Eight Capital raised shares of Galiano Gold to a “strong-buy” rating in a research report on Tuesday, November 19th. Finally, BMO Capital Markets cut shares of Galiano Gold from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th.
Read Our Latest Research Report on GAU
Galiano Gold Stock Up 3.3 %
Shares of NYSEAMERICAN:GAU opened at $1.26 on Thursday. The firm has a market cap of $324.02 million, a P/E ratio of -63.00 and a beta of 1.05. Galiano Gold Inc. has a 1 year low of $0.89 and a 1 year high of $2.00.
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.
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