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

Galiano Gold Inc. (NYSEAMERICAN:GAU) saw a large growth in short interest in the month of 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. Based on an average trading volume of 698,800 shares, the days-to-cover ratio is presently 2.1 days. Currently, 0.8% of the company’s shares are short sold.

Hedge Funds Weigh In On Galiano Gold

Institutional investors and hedge funds have recently modified their holdings of the stock. Two Sigma Advisers LP lifted its holdings in Galiano Gold by 11.4% in the 4th quarter. Two Sigma Advisers LP now owns 155,800 shares of the company’s stock worth $192,000 after purchasing an additional 16,000 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Galiano Gold by 46.9% during 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 lifted its holdings in shares of Galiano Gold by 20.6% in the 4th quarter. Marshall Wace LLP now owns 1,815,814 shares of the company’s stock valued at $2,233,000 after acquiring an additional 309,781 shares during the last quarter. Renaissance Technologies LLC increased its stake in Galiano Gold by 0.6% during the fourth quarter. Renaissance Technologies LLC now owns 2,741,253 shares of the company’s stock worth $3,372,000 after acquiring an additional 16,677 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Galiano Gold in the 4th quarter worth approximately $54,000. 66.82% of the stock is currently owned by institutional investors.

Galiano Gold Price Performance

Shares of Galiano Gold stock traded down $0.06 during trading on Monday, hitting $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 52 week low of $0.81 and a 52 week high of $2.00. The firm has a market cap of $324.02 million, a price-to-earnings ratio of -63.00 and a beta of 1.05.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GAU. BMO Capital Markets downgraded shares of Galiano Gold from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. HC Wainwright lowered their price target on Galiano Gold from $3.10 to $2.80 and set a “buy” rating for the company 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.

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.