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

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

Galiano Gold Stock Down 2.7 %

Shares of Galiano Gold stock traded down $0.03 during midday trading on Friday, hitting $1.09. The company’s stock had a trading volume of 942,965 shares, compared to its average volume of 358,897. The stock has a market cap of $280.22 million, a PE ratio of -54.50 and a beta of 1.06. Galiano Gold has a 1-year low of $0.80 and a 1-year high of $2.00.

Analyst Ratings Changes

Several research firms have issued reports on GAU. HC Wainwright restated a “buy” rating and set a $3.10 price objective (down previously from $4.60) on shares of Galiano Gold in a report on Thursday. Eight Capital upgraded shares of Galiano Gold to a “strong-buy” rating in a research report on Tuesday, November 19th.

Hedge Funds Weigh In On Galiano Gold

Institutional investors and hedge funds have recently bought and sold shares of the business. Donald Smith & CO. Inc. grew its position 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 purchasing an additional 5,961,685 shares in the last quarter. Van ECK Associates Corp grew its holdings 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 acquiring an additional 2,070,000 shares in the last quarter. Marshall Wace LLP increased its stake 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 acquiring an additional 1,013,141 shares during the last quarter. De Lisle Partners LLP raised its holdings in shares of Galiano Gold by 14.0% during the third quarter. De Lisle Partners LLP now owns 815,416 shares of the company’s stock worth $1,154,000 after acquiring an additional 100,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in Galiano Gold in the third quarter valued at about $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.