Galiano Gold Inc. (NYSEAMERICAN:GAU) Sees Significant Decrease in Short Interest

Galiano Gold Inc. (NYSEAMERICAN:GAU) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 480,800 shares, a drop of 35.6% from the September 15th total of 746,900 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily volume of 887,500 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GAU. Equinox Partners Investment Management LLC raised its stake in Galiano Gold by 1.9% in the first quarter. Equinox Partners Investment Management LLC now owns 36,225,936 shares of the company’s stock valued at $50,300,000 after buying an additional 662,500 shares during the period. Donald Smith & CO. Inc. raised its holdings in Galiano Gold by 5.6% in the 2nd quarter. Donald Smith & CO. Inc. now owns 17,919,638 shares of the company’s stock valued at $30,822,000 after acquiring an additional 947,328 shares during the period. Van ECK Associates Corp acquired a new stake in Galiano Gold during the second quarter worth approximately $8,219,000. Marshall Wace LLP boosted its holdings in shares of Galiano Gold by 208.8% during 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 period. Finally, Acadian Asset Management LLC grew its position in shares of Galiano Gold by 186.2% in the second quarter. Acadian Asset Management LLC now owns 944,190 shares of the company’s stock valued at $1,613,000 after purchasing an additional 614,316 shares during the last quarter. 66.82% of the stock is currently owned by institutional investors.

Galiano Gold Stock Up 2.1 %

Shares of GAU stock traded up $0.03 during trading hours on Friday, reaching $1.43. The company had a trading volume of 542,010 shares, compared to its average volume of 993,825. Galiano Gold has a 1-year low of $0.52 and a 1-year high of $2.00. The company has a market cap of $367.40 million, a P/E ratio of 47.67 and a beta of 1.13.

Galiano Gold (NYSEAMERICAN:GAU) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). The company had revenue of $63.00 million for the quarter. Research analysts anticipate that Galiano Gold will post 0.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright lowered their price objective on Galiano Gold from $4.40 to $4.20 and set a “buy” rating on the stock in a research report on Monday, August 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.