Donald Smith & CO. Inc. Sells 1,159,642 Shares of Galiano Gold Inc. $GAU

Donald Smith & CO. Inc. cut its holdings in Galiano Gold Inc. (NYSEAMERICAN:GAU – Free Report) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,956,283 shares of the company’s stock after selling 1,159,642 shares during the quarter. Donald Smith & CO. Inc. owned about 8.84% of Galiano Gold worth $58,079,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. GWN Securities Inc. bought a new position in Galiano Gold in the fourth quarter valued at approximately $258,000. Franklin Resources Inc. boosted its position in shares of Galiano Gold by 11.0% during the fourth quarter. Franklin Resources Inc. now owns 12,017,262 shares of the company’s stock worth $30,557,000 after purchasing an additional 1,193,760 shares in the last quarter. TD Asset Management Inc bought a new position in shares of Galiano Gold during the fourth quarter worth $891,000. Cibc World Market Inc. bought a new position in shares of Galiano Gold during the fourth quarter worth $434,000. Finally, U S Global Investors Inc. bought a new position in shares of Galiano Gold during the fourth quarter worth $5,548,000. 66.82% of the stock is owned by institutional investors.

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Galiano Gold Stock Down 5.4%

Shares of NYSEAMERICAN:GAU opened at $1.94 on Thursday. Galiano Gold Inc. has a 12 month low of $1.22 and a 12 month high of $3.62. The company’s fifty day simple moving average is $2.40 and its 200 day simple moving average is $2.60. The firm has a market cap of $506.75 million, a price-to-earnings ratio of 19.40 and a beta of 0.78.

Analyst Upgrades and Downgrades

GAU has been the topic of a number of recent analyst reports. HC Wainwright lifted their price target on shares of Galiano Gold from $3.20 to $4.25 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Freedom Capital raised shares of Galiano Gold from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $4.25.

View Our Latest Research Report on GAU

About Galiano Gold

(Free Report)

Galiano Gold Incorporated is a Canada-based gold exploration and development company listed on the NYSE American under the symbol GAU. The company’s primary focus is the acquisition, exploration and advancement of gold deposits in the Americas. Galiano Gold pursues a value-driven strategy to build gold resources by identifying high-potential projects, conducting systematic drilling programs and advancing resource definition toward a development decision.

Galiano Gold’s flagship asset is the Oko West and Oko East gold project located in the Essequibo region of Guyana, where multiple oxide and primary gold mineralized zones have been outlined through extensive drilling.

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