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

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

Galiano Gold Trading Down 0.7 %

Shares of Galiano Gold stock opened at $1.43 on Friday. The firm has a market capitalization of $367.62 million, a P/E ratio of -71.50 and a beta of 1.10. Galiano Gold has a twelve month low of $0.60 and a twelve month high of $2.00.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Galiano Gold

Institutional investors and hedge funds have recently made changes to their positions in the business. Donald Smith & CO. Inc. increased its position in Galiano Gold by 33.3% in the 3rd quarter. Donald Smith & CO. Inc. now owns 23,881,323 shares of the company’s stock valued at $33,911,000 after buying an additional 5,961,685 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of 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 purchasing an additional 614,316 shares during the period. Marshall Wace LLP lifted its holdings in shares of 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 in the last quarter. Van ECK Associates Corp grew 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 valued at $9,733,000 after purchasing an additional 2,070,000 shares during the period. Finally, Virtu Financial LLC bought a new stake in Galiano Gold during the 1st quarter valued at $118,000. Institutional investors own 66.82% of the company’s stock.

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.