Franklin Resources Inc. Trims Stock Position in Galiano Gold Inc. (NYSEAMERICAN:GAU)

Franklin Resources Inc. decreased its position in Galiano Gold Inc. (NYSEAMERICAN:GAU) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,822,262 shares of the company’s stock after selling 125,000 shares during the period. Franklin Resources Inc.’s holdings in Galiano Gold were worth $9,728,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company bought a new position in Galiano Gold during the 3rd quarter worth about $639,000. HighTower Advisors LLC purchased a new position in Galiano Gold during the third quarter valued at approximately $36,000. XTX Topco Ltd purchased a new stake in Galiano Gold during the third quarter worth $64,000. JPMorgan Chase & Co. bought a new stake in Galiano Gold during the 3rd quarter valued at $147,000. Finally, Sprott Inc. purchased a new position in shares of Galiano Gold in the 4th quarter valued at $39,000. Institutional investors own 66.82% of the company’s stock.

Wall Street Analyst Weigh In

GAU has been the topic of a number of recent research reports. BMO Capital Markets downgraded Galiano Gold from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. HC Wainwright reaffirmed a “buy” rating and issued a $2.80 price objective on shares of Galiano Gold in a research report on Wednesday, March 19th.

Galiano Gold Stock Performance

Shares of GAU opened at $1.03 on Wednesday. The stock has a market cap of $264.87 million, a price-to-earnings ratio of -51.50 and a beta of 1.05. Galiano Gold Inc. has a 12 month low of $1.00 and a 12 month high of $2.00. The firm’s fifty day simple moving average is $1.22.

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.