Short Interest in Galiano Gold Inc. (NYSEAMERICAN:GAU) Increases By 10.2%

Galiano Gold Inc. (NYSEAMERICAN:GAU) saw a large growth in short interest in August. As of August 31st, there was short interest totalling 681,900 shares, a growth of 10.2% from the August 15th total of 618,600 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily volume of 999,500 shares, the days-to-cover ratio is currently 0.7 days.

Galiano Gold Price Performance

Shares of GAU traded down $0.02 on Wednesday, reaching $1.48. The company’s stock had a trading volume of 61,448 shares, compared to its average volume of 1,027,595. Galiano Gold has a twelve month low of $0.52 and a twelve month high of $2.00. The firm has a market capitalization of $379.34 million, a PE ratio of 30.00 and a beta of 1.13.

Galiano Gold (NYSEAMERICAN:GAU) last posted its earnings results on Thursday, August 8th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). The company had revenue of $63.00 million for the quarter. As a group, analysts expect that Galiano Gold will post 0.17 EPS for the current year.

Institutional Investors Weigh In On Galiano Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sapient Capital LLC increased its stake in Galiano Gold by 15.8% in the 2nd quarter. Sapient Capital LLC now owns 232,244 shares of the company’s stock valued at $399,000 after buying an additional 31,744 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in Galiano Gold by 141.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 54,163 shares of the company’s stock valued at $93,000 after buying an additional 31,757 shares during the last quarter. National Bank of Canada FI purchased a new stake in Galiano Gold in the 2nd quarter valued at about $59,000. Virtu Financial LLC purchased a new stake in Galiano Gold in the 1st quarter valued at about $118,000. Finally, Acadian Asset Management LLC increased its stake in Galiano Gold by 172.5% in the 1st quarter. Acadian Asset Management LLC now owns 329,874 shares of the company’s stock valued at $453,000 after buying an additional 208,800 shares during the last quarter. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright lowered their target price on shares of Galiano Gold from $4.40 to $4.20 and set a “buy” rating on the stock in a report on Monday, August 12th.

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.