Franklin Resources Inc. Sells 110,000 Shares of Galiano Gold Inc. (NYSEAMERICAN:GAU)

Franklin Resources Inc. decreased its position in Galiano Gold Inc. (NYSEAMERICAN:GAU) by 1.4% during the 3rd quarter, Holdings Channel reports. The firm owned 7,947,262 shares of the company’s stock after selling 110,000 shares during the quarter. Franklin Resources Inc.’s holdings in Galiano Gold were worth $11,457,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GAU. Donald Smith & CO. Inc. boosted its position in Galiano Gold by 33.3% in the third quarter. Donald Smith & CO. Inc. now owns 23,881,323 shares of the company’s stock valued at $33,911,000 after buying an additional 5,961,685 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Galiano Gold in the 3rd quarter worth approximately $639,000. Acadian Asset Management LLC grew its position in Galiano Gold by 186.2% during the 2nd quarter. Acadian Asset Management LLC now owns 944,190 shares of the company’s stock worth $1,613,000 after acquiring an additional 614,316 shares during the last quarter. Marshall Wace LLP increased its holdings in Galiano Gold by 208.8% during the 2nd quarter. Marshall Wace LLP now owns 1,498,359 shares of the company’s stock valued at $2,577,000 after purchasing an additional 1,013,141 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in Galiano Gold by 43.3% in the 3rd quarter. Van ECK Associates Corp now owns 6,854,000 shares of the company’s stock valued at $9,733,000 after purchasing an additional 2,070,000 shares during the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

Galiano Gold Stock Performance

Shares of GAU opened at $1.22 on Friday. The firm has a market capitalization of $313.64 million, a price-to-earnings ratio of -61.00 and a beta of 1.04. Galiano Gold Inc. has a 52 week low of $0.67 and a 52 week high of $2.00.

Analyst Ratings Changes

A number of analysts have recently weighed in on GAU shares. Eight Capital upgraded Galiano Gold to a “strong-buy” rating in a research note on Tuesday, November 19th. HC Wainwright raised their price objective on shares of Galiano Gold from $4.20 to $4.60 and gave the company a “buy” rating in a research report on Tuesday, November 12th.

About Galiano Gold

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.