Van ECK Associates Corp Sells 558,160 Shares of Galiano Gold Inc. (NYSEAMERICAN:GAU)

Van ECK Associates Corp lessened its holdings in shares of Galiano Gold Inc. (NYSEAMERICAN:GAU - Free Report) by 8.1% during the fourth quarter, according to the company in its most recent filing with the Securities and 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 2.45% of Galiano Gold worth $7,835,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Banque Cantonale Vaudoise purchased a new position in Galiano Gold during the third quarter valued at $33,000. HighTower Advisors LLC bought a new position in shares of Galiano Gold during the third quarter valued at $36,000. XTX Topco Ltd purchased a new position in shares of Galiano Gold in the 3rd quarter worth about $64,000. De Lisle Partners LLP boosted its stake in Galiano Gold by 14.0% in the 3rd quarter. De Lisle Partners LLP now owns 815,416 shares of the company's stock worth $1,154,000 after purchasing an additional 100,000 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new stake in Galiano Gold during the 3rd quarter valued at about $147,000. 66.82% of the stock is owned by hedge funds and other institutional investors.

Galiano Gold Trading Down 2.3 %

NYSEAMERICAN:GAU traded down $0.03 during mid-day trading on Friday, hitting $1.29. 1,908,447 shares of the stock traded hands, compared to its average volume of 842,098. Galiano Gold Inc. has a 52 week low of $0.89 and a 52 week high of $2.00. The company has a market capitalization of $331.74 million, a price-to-earnings ratio of -64.50 and a beta of 1.05.

Wall Street Analysts Forecast Growth

Several research firms recently commented 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 report on Wednesday, January 29th. BMO Capital Markets cut shares of Galiano Gold from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 29th. Finally, Eight Capital upgraded shares of Galiano Gold to a "strong-buy" rating in a research report on Tuesday, November 19th.

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.