Pale Fire Capital SE Has $10.04 Million Position in Galiano Gold Inc. $GAU

Pale Fire Capital SE lessened its stake in shares of Galiano Gold Inc. (NYSEAMERICAN:GAU) by 49.5% during the first quarter, Holdings Channel.com reports. The fund owned 4,000,000 shares of the company’s stock after selling 3,914,409 shares during the period. Galiano Gold comprises 0.9% of Pale Fire Capital SE’s investment portfolio, making the stock its 15th largest position. Pale Fire Capital SE’s holdings in Galiano Gold were worth $10,040,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of Galiano Gold during the 3rd quarter worth $28,000. Mariner LLC acquired a new position in Galiano Gold in the fourth quarter valued at about $38,000. Allworth Financial LP acquired a new position in Galiano Gold in the third quarter valued at about $51,000. Caitong International Asset Management Co. Ltd acquired a new position in Galiano Gold in the fourth quarter valued at about $55,000. Finally, Russell Investments Group Ltd. bought a new stake in Galiano Gold during the fourth quarter worth about $55,000. 66.82% of the stock is owned by institutional investors and hedge funds.

Galiano Gold Price Performance

Shares of NYSEAMERICAN:GAU opened at $1.86 on Friday. Galiano Gold Inc. has a 1 year low of $1.26 and a 1 year high of $3.62. The stock has a market capitalization of $486.06 million, a price-to-earnings ratio of 18.60 and a beta of 0.84. The company’s 50 day simple moving average is $2.03 and its 200 day simple moving average is $2.49.

Analyst Ratings Changes

Separately, Freedom Capital upgraded shares of Galiano Gold from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Galiano Gold currently has a consensus rating of “Buy” and an average target price of $4.25.

Galiano Gold Profile

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.