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

Galiano Gold Inc. (NYSEAMERICAN:GAU) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 1,020,000 shares, an increase of 10.2% from the November 30th total of 925,800 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average trading volume of 676,000 shares, the short-interest ratio is currently 1.5 days.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. HC Wainwright lifted their price target on Galiano Gold from $4.20 to $4.60 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Eight Capital upgraded shares of Galiano Gold to a “strong-buy” rating in a report on Tuesday, November 19th.

Galiano Gold Price Performance

GAU stock traded up $0.01 during trading hours on Wednesday, reaching $1.23. The stock had a trading volume of 471,181 shares, compared to its average volume of 924,723. The stock has a market cap of $316.21 million, a P/E ratio of -61.50 and a beta of 1.04. Galiano Gold has a fifty-two week low of $0.80 and a fifty-two week high of $2.00.

Institutional Trading of Galiano Gold

Several hedge funds have recently added to or reduced their stakes in GAU. Banque Cantonale Vaudoise bought a new stake in Galiano Gold during the third quarter worth $33,000. HighTower Advisors LLC acquired a new stake in Galiano Gold in the third quarter valued at approximately $36,000. National Bank of Canada FI acquired a new stake in shares of Galiano Gold in the 2nd quarter worth about $59,000. XTX Topco Ltd bought a new stake in Galiano Gold in the 3rd quarter worth about $64,000. Finally, Cubist Systematic Strategies LLC grew its position in shares of Galiano Gold by 141.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 54,163 shares of the company’s stock valued at $93,000 after acquiring an additional 31,757 shares during the period. 66.82% of the stock is owned by institutional investors and hedge funds.

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.