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

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

Analysts Set New Price Targets

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

Institutional Trading of Galiano Gold

Several institutional investors have recently bought and sold shares of the company. National Bank of Canada FI bought a new stake in shares of Galiano Gold during the second quarter valued at approximately $59,000. Cubist Systematic Strategies LLC boosted its stake in 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 period. Virtu Financial LLC purchased a new position in Galiano Gold during the first quarter worth $118,000. Sapient Capital LLC boosted its stake in Galiano Gold by 15.8% during the second quarter. Sapient Capital LLC now owns 232,244 shares of the company’s stock worth $399,000 after buying an additional 31,744 shares during the period. Finally, Acadian Asset Management LLC lifted its position in shares of Galiano Gold by 172.5% during the first quarter. Acadian Asset Management LLC now owns 329,874 shares of the company’s stock worth $453,000 after purchasing an additional 208,800 shares during the last quarter. 66.82% of the stock is owned by hedge funds and other institutional investors.

Galiano Gold Stock Up 0.7 %

NYSEAMERICAN GAU traded up $0.01 during trading on Tuesday, reaching $1.43. The company’s stock had a trading volume of 350,893 shares, compared to its average volume of 1,012,570. The firm has a market capitalization of $367.40 million, a P/E ratio of 28.90 and a beta of 1.13. Galiano Gold has a one year low of $0.52 and a one year high of $2.00.

Galiano Gold (NYSEAMERICAN:GAU) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). The firm had revenue of $63.00 million during the quarter. As a group, research analysts anticipate that Galiano Gold will post 0.13 EPS for the current fiscal year.

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.