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

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

Galiano Gold Trading Down 2.7 %

Shares of Galiano Gold stock traded down $0.03 on Friday, reaching $1.09. 942,965 shares of the company were exchanged, compared to its average volume of 358,897. The stock 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 1-year low of $0.80 and a 1-year high of $2.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GAU. Donald Smith & CO. Inc. grew its stake in shares of Galiano Gold by 33.3% in the third quarter. Donald Smith & CO. Inc. now owns 23,881,323 shares of the company’s stock worth $33,911,000 after purchasing an additional 5,961,685 shares in the last quarter. Van ECK Associates Corp grew its position in 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 buying an additional 2,070,000 shares in the last quarter. Marshall Wace LLP increased its stake in 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 during the period. De Lisle Partners LLP raised its position in shares of Galiano Gold by 14.0% during the 3rd quarter. De Lisle Partners LLP now owns 815,416 shares of the company’s stock worth $1,154,000 after buying an additional 100,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Galiano Gold in the 3rd quarter worth approximately $639,000. 66.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.