Short Interest in Galiano Gold Inc. (NYSEAMERICAN:GAU) Grows By 16.8%

Galiano Gold Inc. (NYSEAMERICAN:GAU) was the target of a significant growth in short interest in January. As of January 31st, there was short interest totalling 1,460,000 shares, a growth of 16.8% from the January 15th total of 1,250,000 shares. Currently, 0.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 698,800 shares, the days-to-cover ratio is currently 2.1 days.

Galiano Gold Stock Performance

Shares of GAU stock traded down $0.06 during trading on Monday, reaching $1.26. The company had a trading volume of 805,067 shares, compared to its average volume of 929,639. Galiano Gold has a one year low of $0.81 and a one year high of $2.00. The company has a market capitalization of $324.02 million, a price-to-earnings ratio of -63.00 and a beta of 1.05.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GAU shares. 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 report on Wednesday, January 29th. BMO Capital Markets lowered Galiano Gold from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. Finally, Eight Capital upgraded Galiano Gold to a “strong-buy” rating in a report on Tuesday, November 19th.

Institutional Investors Weigh In On Galiano Gold

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE grew its stake in shares of Galiano Gold by 46.9% in the fourth quarter. Bank of America Corp DE now owns 860,516 shares of the company’s stock worth $1,058,000 after acquiring an additional 274,759 shares during the last quarter. Marshall Wace LLP grew its position in Galiano Gold by 20.6% in the 4th quarter. Marshall Wace LLP now owns 1,815,814 shares of the company’s stock worth $2,233,000 after purchasing an additional 309,781 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Galiano Gold by 0.6% during the 4th quarter. Renaissance Technologies LLC now owns 2,741,253 shares of the company’s stock worth $3,372,000 after purchasing an additional 16,677 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Galiano Gold during the 4th quarter worth about $54,000. Finally, Donald Smith & CO. Inc. raised its position in shares of Galiano Gold by 7.7% during the fourth quarter. Donald Smith & CO. Inc. now owns 25,708,407 shares of the company’s stock valued at $31,621,000 after buying an additional 1,827,084 shares during the last quarter. 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.