Galiano Gold Inc. (NYSEAMERICAN:GAU) Short Interest Update

Galiano Gold Inc. (NYSEAMERICAN:GAU) saw a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 1,300,000 shares, a growth of 151.3% from the October 31st total of 517,300 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average daily volume of 714,200 shares, the short-interest ratio is currently 1.8 days.

Institutional Trading of Galiano Gold

Several hedge funds have recently made changes to their positions in GAU. Virtu Financial LLC acquired a new stake in shares of Galiano Gold in the 1st quarter valued at approximately $118,000. Sapient Capital LLC grew its stake in shares of Galiano Gold by 15.8% during the 2nd quarter. Sapient Capital LLC now owns 232,244 shares of the company’s stock worth $399,000 after purchasing an additional 31,744 shares during the period. Van ECK Associates Corp purchased a new position in shares of Galiano Gold in the 2nd quarter valued at about $8,219,000. National Bank of Canada FI acquired a new stake in shares of Galiano Gold in the second quarter valued at about $59,000. Finally, Acadian Asset Management LLC boosted its holdings in Galiano Gold by 186.2% during the second quarter. Acadian Asset Management LLC now owns 944,190 shares of the company’s stock worth $1,613,000 after buying an additional 614,316 shares in the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Galiano Gold Price Performance

Shares of NYSEAMERICAN GAU traded up $0.04 during mid-day trading on Thursday, hitting $1.44. 347,237 shares of the company were exchanged, compared to its average volume of 970,610. Galiano Gold has a 1-year low of $0.60 and a 1-year high of $2.00. The company has a market cap of $370.20 million, a PE ratio of -71.75 and a beta of 1.10.

Galiano Gold Company Profile

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.