Galiano Gold Inc. (NYSEAMERICAN:GAU) Short Interest Update

Galiano Gold Inc. (NYSEAMERICAN:GAU) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 1,020,000 shares, a growth of 10.2% from the November 30th total of 925,800 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average daily volume of 676,000 shares, the days-to-cover ratio is currently 1.5 days.

Analyst Upgrades and Downgrades

GAU has been the topic of several research analyst reports. Eight Capital raised Galiano Gold to a “strong-buy” rating in a research report on Tuesday, November 19th. HC Wainwright lifted their price target on Galiano Gold from $4.20 to $4.60 and gave the company a “buy” rating in a research report on Tuesday, November 12th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. bought a new position in Galiano Gold in the third quarter valued at about $147,000. XTX Topco Ltd acquired a new position in Galiano Gold during the third quarter valued at approximately $64,000. HighTower Advisors LLC bought a new stake in Galiano Gold in the third quarter valued at approximately $36,000. De Lisle Partners LLP raised its holdings in Galiano Gold by 14.0% in the third quarter. De Lisle Partners LLP now owns 815,416 shares of the company’s stock worth $1,154,000 after purchasing an additional 100,000 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Galiano Gold during the third quarter worth $639,000. 66.82% of the stock is owned by institutional investors.

Galiano Gold Stock Performance

Shares of Galiano Gold stock traded up $0.01 during trading on Wednesday, reaching $1.23. The company’s stock had a trading volume of 471,181 shares, compared to its average volume of 924,723. Galiano Gold has a one year low of $0.80 and a one year high of $2.00. The firm has a market capitalization of $316.21 million, a PE ratio of -61.50 and a beta of 1.04.

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.