Short Interest in Galiano Gold Inc. (NYSEAMERICAN:GAU) Expands By 151.3%

Galiano Gold Inc. (NYSEAMERICAN:GAU) saw a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 1,300,000 shares, an increase of 151.3% from the October 31st total of 517,300 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average trading volume of 714,200 shares, the days-to-cover ratio is presently 1.8 days.

Hedge Funds Weigh In On Galiano Gold

Several institutional investors have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. increased its holdings in shares of Galiano Gold by 33.3% in the 3rd quarter. Donald Smith & CO. Inc. now owns 23,881,323 shares of the company’s stock worth $33,911,000 after buying an additional 5,961,685 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Galiano Gold by 43.3% in the 3rd quarter. Van ECK Associates Corp now owns 6,854,000 shares of the company’s stock valued at $9,733,000 after purchasing an additional 2,070,000 shares during the last quarter. Marshall Wace LLP increased its position in shares of Galiano Gold by 208.8% during the 2nd quarter. Marshall Wace LLP now owns 1,498,359 shares of the company’s stock valued at $2,577,000 after purchasing an additional 1,013,141 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Galiano Gold by 186.2% during the 2nd quarter. Acadian Asset Management LLC now owns 944,190 shares of the company’s stock valued at $1,613,000 after buying an additional 614,316 shares during the period. Finally, De Lisle Partners LLP raised its holdings in Galiano Gold by 14.0% during the 3rd quarter. De Lisle Partners LLP now owns 815,416 shares of the company’s stock valued at $1,154,000 after buying an additional 100,000 shares during the period. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GAU. Eight Capital upgraded shares of Galiano Gold to a “strong-buy” rating in a research report on Tuesday, November 19th. HC Wainwright raised their target price on Galiano Gold from $4.20 to $4.60 and gave the stock a “buy” rating in a report on Tuesday, November 12th.

Galiano Gold Trading Down 0.7 %

GAU stock opened at $1.43 on Friday. Galiano Gold has a one year low of $0.60 and a one year high of $2.00. The firm has a market capitalization of $367.62 million, a PE ratio of -71.50 and a beta of 1.10.

About Galiano Gold

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.