Equinox Partners Investment Management LLC Sells 1,866,280 Shares of Galiano Gold Inc. $GAU

Equinox Partners Investment Management LLC trimmed its stake in shares of Galiano Gold Inc. (NYSEAMERICAN:GAU) by 11.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,840,778 shares of the company’s stock after selling 1,866,280 shares during the quarter. Galiano Gold comprises 18.4% of Equinox Partners Investment Management LLC’s portfolio, making the stock its largest position. Equinox Partners Investment Management LLC owned approximately 5.33% of Galiano Gold worth $35,195,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Galiano Gold in the 3rd quarter worth approximately $28,000. Mariner LLC bought a new position in Galiano Gold in the 4th quarter worth approximately $38,000. Russell Investments Group Ltd. bought a new position in Galiano Gold in the 4th quarter worth approximately $55,000. Caitong International Asset Management Co. Ltd bought a new position in Galiano Gold in the 4th quarter worth approximately $58,000. Finally, Allworth Financial LP bought a new position in Galiano Gold in the 3rd quarter worth approximately $51,000. 66.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GAU shares. Freedom Capital raised Galiano Gold from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. HC Wainwright increased their price target on Galiano Gold from $3.20 to $4.25 and gave the company a “buy” rating in a research note on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $4.25.

Galiano Gold Stock Performance

Shares of NYSEAMERICAN GAU opened at $2.20 on Thursday. The stock has a fifty day moving average price of $2.36 and a two-hundred day moving average price of $2.60. The firm has a market cap of $574.66 million, a P/E ratio of 22.00 and a beta of 0.78. Galiano Gold Inc. has a 1 year low of $1.22 and a 1 year high of $3.62.

About Galiano Gold

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.