Short Interest in Galiano Gold Inc. (NYSEAMERICAN:GAU) Expands By 13.7%

Galiano Gold Inc. (NYSEAMERICAN:GAU) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 1,160,000 shares, an increase of 13.7% from the December 31st total of 1,020,000 shares. Based on an average daily trading volume, of 651,800 shares, the short-interest ratio is presently 1.8 days. Approximately 0.6% of the shares of the company are sold short.

Galiano Gold Trading Up 2.2 %

Galiano Gold stock traded up $0.03 during trading on Monday, hitting $1.15. The company’s stock had a trading volume of 425,052 shares, compared to its average volume of 875,637. The firm has a market capitalization of $294.36 million, a P/E ratio of -57.25 and a beta of 1.05. Galiano Gold has a 1-year low of $0.80 and a 1-year high of $2.00.

Galiano Gold (NYSEAMERICAN:GAU) last released its earnings results on Thursday, November 7th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.03 by $0.04. The business had revenue of $71.13 million during the quarter. As a group, equities analysts predict that Galiano Gold will post 0.08 EPS for the current year.

Institutional Investors Weigh In On Galiano Gold

Several institutional investors and hedge funds have recently modified their holdings of GAU. Sapient Capital LLC raised its stake in Galiano Gold by 6.7% during the third quarter. Sapient Capital LLC now owns 247,694 shares of the company’s stock valued at $354,000 after buying an additional 15,450 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Galiano Gold in the 3rd quarter valued at approximately $33,000. HighTower Advisors LLC acquired a new stake in Galiano Gold in the 3rd quarter valued at approximately $36,000. Cubist Systematic Strategies LLC increased its position 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 acquiring an additional 31,757 shares during the period. Finally, XTX Topco Ltd bought a new position in Galiano Gold during the 3rd quarter valued at $64,000. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Analyst Upgrades and Downgrades

GAU has been the topic of several analyst reports. HC Wainwright lowered 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 Galiano Gold to a “strong-buy” rating in a research note on Tuesday, November 19th. Finally, BMO Capital Markets downgraded Galiano Gold from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th.

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.