Galiano Gold Inc. (NYSEAMERICAN:GAU) Sees Large Growth in Short Interest

Galiano Gold Inc. (NYSEAMERICAN:GAU) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 1,160,000 shares, a growth of 13.7% from the December 31st total of 1,020,000 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 651,800 shares, the short-interest ratio is presently 1.8 days.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Eight Capital raised Galiano Gold to a “strong-buy” rating in a research report on Tuesday, November 19th. BMO Capital Markets downgraded shares of Galiano Gold from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Finally, HC Wainwright dropped their target price on shares of Galiano Gold from $3.10 to $2.80 and set a “buy” rating on the stock in a research note on Wednesday, January 29th.

Galiano Gold Price Performance

Shares of GAU traded down $0.01 during mid-day trading on Monday, hitting $1.12. The stock had a trading volume of 82,895 shares, compared to its average volume of 857,339. The firm has a market cap of $286.64 million, a PE ratio of -55.75 and a beta of 1.05. Galiano Gold has a 52 week low of $0.80 and a 52 week high of $2.00.

Galiano Gold (NYSEAMERICAN:GAU) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.03 by $0.04. The business had revenue of $71.13 million for the quarter. Sell-side analysts anticipate that Galiano Gold will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Galiano Gold

Several institutional investors have recently made changes to their positions in GAU. Donald Smith & CO. Inc. grew its stake in Galiano Gold by 33.3% during the third quarter. Donald Smith & CO. Inc. now owns 23,881,323 shares of the company’s stock valued at $33,911,000 after acquiring an additional 5,961,685 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Galiano Gold by 43.3% during 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 in the last quarter. Marshall Wace LLP increased its holdings in shares of Galiano Gold by 208.8% in the second quarter. Marshall Wace LLP now owns 1,498,359 shares of the company’s stock worth $2,577,000 after purchasing an additional 1,013,141 shares during the period. De Lisle Partners LLP raised its position in shares of Galiano Gold by 14.0% in the third quarter. De Lisle Partners LLP now owns 815,416 shares of the company’s stock worth $1,154,000 after buying an additional 100,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in Galiano Gold during the third quarter valued at $639,000. Hedge funds and other institutional investors own 66.82% of the company’s stock.

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.