Galiano Gold Inc. (NYSEAMERICAN:GAU) Short Interest Up 16.8% in January

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

Analysts Set New Price Targets

Several research firms have recently weighed in on GAU. Eight Capital raised shares of Galiano Gold to a “strong-buy” rating in a report on Tuesday, November 19th. BMO Capital Markets lowered shares of Galiano Gold from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Finally, HC Wainwright reduced 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.

Galiano Gold Stock Performance

Shares of NYSEAMERICAN:GAU traded down $0.06 during midday trading on Monday, reaching $1.26. The company’s stock had a trading volume of 805,067 shares, compared to its average volume of 929,639. Galiano Gold has a fifty-two week low of $0.81 and a fifty-two week high of $2.00. The firm has a market cap of $324.02 million, a PE ratio of -63.00 and a beta of 1.05.

Institutional Investors Weigh In On Galiano Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its stake in shares of Galiano Gold by 0.6% during the fourth quarter. Renaissance Technologies LLC now owns 2,741,253 shares of the company’s stock valued at $3,372,000 after acquiring an additional 16,677 shares during the period. Banque Cantonale Vaudoise bought a new stake in Galiano Gold during the 3rd quarter worth about $33,000. HighTower Advisors LLC acquired a new position in Galiano Gold during the 3rd quarter valued at about $36,000. Sprott Inc. acquired a new position in Galiano Gold during the 4th quarter valued at about $39,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Galiano Gold in the 4th quarter valued at about $54,000. Institutional investors and hedge funds 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.