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

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Sapient Capital LLC boosted its stake in shares of Galiano Gold by 6.7% in the 3rd quarter. Sapient Capital LLC now owns 247,694 shares of the company’s stock valued at $354,000 after purchasing an additional 15,450 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Galiano Gold in the 3rd quarter valued at approximately $33,000. HighTower Advisors LLC acquired a new stake in Galiano Gold in the third quarter valued at approximately $36,000. Cubist Systematic Strategies LLC grew its stake in shares of Galiano Gold by 141.7% during the second quarter. Cubist Systematic Strategies LLC now owns 54,163 shares of the company’s stock worth $93,000 after buying an additional 31,757 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Galiano Gold during the third quarter worth $64,000. 66.82% of the stock is currently owned by institutional investors and hedge funds.

Galiano Gold Stock Down 2.7 %

Shares of NYSEAMERICAN GAU opened at $1.09 on Monday. The firm has a market capitalization of $280.22 million, a price-to-earnings ratio of -54.50 and a beta of 1.06. Galiano Gold has a fifty-two week low of $0.80 and a fifty-two week high of $2.00.

Wall Street Analyst Weigh In

GAU has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating and set a $3.10 price target (down from $4.60) on shares of Galiano Gold in a research report on Thursday. Eight Capital upgraded shares of Galiano Gold to a “strong-buy” rating in a research note on Tuesday, November 19th.

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.