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

Galiano Gold Inc. (NYSEAMERICAN:GAU) saw a large growth in short interest in 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. Currently, 0.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 651,800 shares, the short-interest ratio is presently 1.8 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Donald Smith & CO. Inc. lifted its holdings in shares of Galiano Gold by 33.3% in the 3rd quarter. Donald Smith & CO. Inc. now owns 23,881,323 shares of the company’s stock worth $33,911,000 after acquiring an additional 5,961,685 shares during the last quarter. Van ECK Associates Corp raised its position in Galiano Gold by 43.3% in the 3rd quarter. Van ECK Associates Corp now owns 6,854,000 shares of the company’s stock worth $9,733,000 after purchasing an additional 2,070,000 shares during the period. Marshall Wace LLP raised its position in Galiano Gold by 208.8% in the 2nd 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. The Manufacturers Life Insurance Company bought a new stake in Galiano Gold in the third quarter worth about $639,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of Galiano Gold during the third quarter valued at approximately $147,000. 66.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GAU has been the topic of several recent analyst reports. HC Wainwright decreased their target price on Galiano Gold from $3.10 to $2.80 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Eight Capital upgraded shares of Galiano Gold to a “strong-buy” rating in a research report on Tuesday, November 19th. Finally, BMO Capital Markets downgraded shares of Galiano Gold from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th.

Galiano Gold Stock Down 1.3 %

Galiano Gold stock traded down $0.02 during mid-day trading on Monday, reaching $1.11. 28,351 shares of the company’s stock traded hands, compared to its average volume of 856,607. Galiano Gold has a 12-month low of $0.80 and a 12-month high of $2.00. The company has a market cap of $284.07 million, a price-to-earnings ratio of -54.75 and a beta of 1.05.

Galiano Gold (NYSEAMERICAN:GAU) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.04. The company had revenue of $71.13 million for the quarter. On average, equities research analysts anticipate that Galiano Gold will post 0.08 earnings per share for the current fiscal year.

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.