Galiano Gold Inc. (NYSEAMERICAN:GAU) Short Interest Up 13.7% in January

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

Galiano Gold Trading Down 1.3 %

Shares of NYSEAMERICAN GAU traded down $0.02 during trading on Monday, reaching $1.11. The company had a trading volume of 28,351 shares, compared to its average volume of 856,607. Galiano Gold has a 12-month low of $0.80 and a 12-month high of $2.00. The stock has a market cap of $284.07 million, a P/E ratio of -54.75 and a beta of 1.05.

Galiano Gold (NYSEAMERICAN:GAU) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.03 by $0.04. The business had revenue of $71.13 million for the quarter. As a group, analysts forecast that Galiano Gold will post 0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GAU shares. Eight Capital raised Galiano Gold to a “strong-buy” rating in a research note on Tuesday, November 19th. HC Wainwright decreased their price objective on shares of Galiano Gold from $3.10 to $2.80 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, BMO Capital Markets lowered shares of Galiano Gold from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th.

Hedge Funds Weigh In On Galiano Gold

Institutional investors have recently made changes to their positions in the business. Donald Smith & CO. Inc. lifted its position in Galiano Gold by 33.3% during the third quarter. Donald Smith & CO. Inc. now owns 23,881,323 shares of the company’s stock valued at $33,911,000 after purchasing an additional 5,961,685 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Galiano Gold by 43.3% in the third quarter. Van ECK Associates Corp now owns 6,854,000 shares of the company’s stock worth $9,733,000 after buying an additional 2,070,000 shares during the period. Marshall Wace LLP lifted 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 buying an additional 1,013,141 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Galiano Gold in the 3rd quarter worth approximately $639,000. Finally, JPMorgan Chase & Co. bought a new stake in Galiano Gold during the 3rd quarter worth approximately $147,000. Institutional investors own 66.82% of the company’s stock.

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.