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

Galiano Gold Inc. (NYSEAMERICAN:GAU) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 746,900 shares, a growth of 9.5% from the August 31st total of 681,900 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily volume of 955,000 shares, the short-interest ratio is currently 0.8 days.

Analysts Set New Price Targets

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

Galiano Gold Trading Up 1.4 %

NYSEAMERICAN GAU traded up $0.02 on Tuesday, reaching $1.44. 591,430 shares of the stock were exchanged, compared to its average volume of 1,013,842. Galiano Gold has a one year low of $0.52 and a one year high of $2.00. The stock has a market cap of $369.96 million, a price-to-earnings ratio of 28.80 and a beta of 1.13.

Galiano Gold (NYSEAMERICAN:GAU) last released 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. Sell-side analysts forecast that Galiano Gold will post 0.13 EPS for the current year.

Institutional Trading of Galiano Gold

Several institutional investors have recently made changes to their positions in GAU. National Bank of Canada FI bought a new position in shares of Galiano Gold during the 2nd quarter valued at about $59,000. Cubist Systematic Strategies LLC boosted its position in shares of Galiano Gold by 141.7% during 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 last quarter. Virtu Financial LLC purchased a new position in shares of Galiano Gold in the first quarter valued at $118,000. Sapient Capital LLC increased its position in Galiano Gold by 15.8% in the second quarter. Sapient Capital LLC now owns 232,244 shares of the company’s stock worth $399,000 after purchasing an additional 31,744 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in Galiano Gold by 172.5% during the first quarter. Acadian Asset Management LLC now owns 329,874 shares of the company’s stock valued at $453,000 after purchasing an additional 208,800 shares in the last quarter. Hedge funds and other 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.